British Telecommunications PLC
26 April 2001
SIR IAIN VALLANCE HANDS OVER TO
SIR CHRISTOPHER BLAND AT BT
BT today announced that Sir Iain Vallance will hand over the chairmanship of BT
to Sir Christopher Bland with effect from 1 May. Sir Iain will step down as a
Board director and will remain with BT as President Emeritus until July 2002.
Sir Iain, who is also President of the CBI, joined the Post Office in 1966 and
joined the BT Board at its inception in 1981. He played a crucial role in
taking BT through privatisation in 1984, became chief executive in 1986 and
chairman the following year.
He said: ' I have been on the Board of BT for 20 years and its chairman since
1987. During that time BT has grown to be an international company and has
moved into the new wave communication sectors of mobile and internet. We have
world class technologies and an unparalleled international reputation for our
research and development work. BT is a great, resilient company with committed,
professional people. For some time now I have felt it right that I should stand
down once we could find an able successor. I am delighted we have now done so
and I look forward to maintaining my links with BT alongside both Christopher
and Peter Bonfield, CE0, with whom I have hugely enjoyed working for more than
five years.'
Sir Peter Bonfield said: 'Iain's contribution to BT and the industry has been
enormous. I thank him for the excellent support he has given me as CEO and look
forward to working with Christopher in the next phase of rapid change in our
company.'
Sir Christopher has been Chairman of the BBC since 1996 and he will remain so
until his successor takes up this appointment.
Speaking of his new job Sir Christopher said: 'BT is an excellent company
operating in a highly competitive sector. I look forward to chairing the Board
through the next challenging and exciting period. There are immediate issues
to address, notably the impact of a very dynamic marketplace on the strategic
priorities of the company; managing for cash and realising value for assets in
the context of the current levels of debt.
'I look forward to working with Peter Bonfield and his executive team, and I am
pleased that Iain Vallance will remain with the company as President Emeritus'
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Inquiries about this news release should be made to the BT Group Newsroom
on its 24-hour number: 020 7356 5369. From outside the UK, dial + 44 20 7356
5369. All news releases can be accessed at our web site:
http://www.bt.com
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