The boss of BT Group is to freeze his £1.1m wage until he retires from the FTSE 100 telecoms operator.
Sky Information has learnt that Philip Jansen’s base pay will most likely be maintained on the an identical stage at which it was set when he joined the company in 2019.
Metropolis sources acknowledged the selection may be set out in BT’s annual report, which is predicted to be revealed as shortly as Thursday.
Mr Jansen’s annual wage was mounted for five years upon changing into a member of, which implies the current affiliation was on account of expire on the end of this calendar 12 months.
Nonetheless, an insider acknowledged it will likely be renewed on a rolling basis and would apply until he lastly leaves the company.
In full, Mr Jansen is thought to have been paid roughly £3m in BT’s last financial 12 months, barely down on the sooner 12 months.
Information of the pay selection comes merely weeks after BT signalled that its workforce would shrink by as many as 55,000 people by the highest of the final decade amid a development in artificial intelligence and as its full-fibre broadband rollout includes an end.
Beneath Mr Jansen, BT has accelerated its transformation, although its share worth effectivity has led Metropolis analysts to take a place that it’s weak to a takeover.
The telecoms tycoon Patrick Drahi has constructed a 25% stake inside the agency, although he as soon as extra dominated out mounting a full bid.
The agency declined to comment ahead of the publication of its annual report.
Supply: data.sky.com”