The boss of BT Group is to freeze his £1.1m wage till he retires from the FTSE 100 telecoms operator.
Sky News has learnt that Philip Jansen’s base pay will probably be maintained on the similar stage at which it was set when he joined the corporate in 2019.
City sources stated the choice could be set out in BT’s annual report, which is anticipated to be revealed as quickly as Thursday.
Mr Jansen’s annual wage was mounted for 5 years upon becoming a member of, that means the present association was as a consequence of expire on the finish of this calendar 12 months.
However, an insider stated it could be renewed on a rolling foundation and would apply till he ultimately leaves the corporate.
In whole, Mr Jansen is known to have been paid roughly £3m in BT’s final monetary 12 months, barely down on the earlier 12 months.
News of the pay resolution comes simply weeks after BT signalled that its workforce would shrink by as many as 55,000 individuals by the top of the last decade amid a growth in synthetic intelligence and as its full-fibre broadband rollout involves an finish.
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Under Mr Jansen, BT has accelerated its transformation, though its share worth efficiency has led City analysts to invest that it’s susceptible to a takeover.
The telecoms tycoon Patrick Drahi has constructed a 25% stake within the firm, though he once more dominated out mounting a full bid.
The firm declined to remark forward of the publication of its annual report.
Content Source: information.sky.com