How BT’s ‘no nonsense’ first female chief helped turn company around
Summary
Allison Kirkby became BT’s first female chief executive over two years ago, and since then, the company’s share price has increased by 80%. Under her leadership, BT has made progress in selling its international division, expanding full-fibre broadband coverage in the UK, and raising cost-saving targets, though some credit earlier progress to her predecessor.Key Facts
- Allison Kirkby became BT’s first female CEO more than two years ago.
- Since she took over, BT’s share price has risen by 80%.
- Kirkby earned a pay and bonus package of £5.6 million last year, the largest at BT in over a decade.
- BT’s international division, which had been a financial drag, is being sold off to focus on UK operations.
- More than two-thirds of UK homes now have full-fibre broadband thanks to BT’s investments.
- BT expects to reduce its workforce by about 40% by the end of the decade, partly due to AI and fewer engineering needs.
- The company raised its cost-saving target from £3 billion to £3.7 billion.
- BT faces competition from Vodafone and had revenue decline by 3% last year.
- BT reversed a plan to retire its brand in favor of EE, aiming to position BT as a national connectivity brand.
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