BT share price: Telco appoints chief strategy and transformation officer

Boston Consulting Group’s Michael Sherman to take newly-created role

BT share price: Telco appoints chief strategy and transformation officer

BT Group (LON:BT.A) has appointed Michael Sherman to the newly-created role of chief strategy and transformation officer, the blue-chip telco has said. Sherman, who will join the former telecoms monopoly from Boston Consulting Group, marks the latest addition to the group’s executive committee.

BT’s share price has fallen into the red in today’s session, having given up 0.46 percent to 226.11p as of 14:34 GMT. The stock is underperforming the broader UK market, with the benchmark FTSE 100 index having climbed into positive territory and currently standing 0.20 percent higher at 7,153.12 points. The telco’s shares have lost just under a third of their value over the past year, as compared with a near three-percent dip in the Footsie.

BT hires chief strategy and transformation officer

BT announced in a statement today that it had appointed Michael Sherman to the newly created role of chief strategy and transformation officer, reporting directly to the group’s chief executive Gavin Patterson. Sherman will join the telco from management consulting and business strategy firm Boston Consulting Group on May 1.

He will work closely with Patterson and BT’s board and customer facing units to develop and drive the company’s strategy, customer experience and transformation programmes.

Latest hires at former telecoms monopoly

Sherman marks the latest appointment which Patterson has made to his executive committee. Other recent hires include former Ofwat Chief Executive Cathryn Ross joined as BT’s director of regulatory affairs in January and Sabine Chalmers, the former Anheuser-Busch InBev executive, who joins as general counsel next month.

The appointment comes after news suggested earlier this week that former telecoms monopoly faces a new challenge on rural broadband networks, with the government considering a radical shake-up of the market.

As of 14:56 GMT, Wednesday, 14 March, BT Group plc share price is 225.05p.

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