All Corporate articles – Page 5
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OperationsDT opts for second-choice Deloitte as new auditor
Deloitte given mandate to replace incumbent PwC. Proposal to be put to shareholders in April, and comes after disrupted, three-year selection process. DT drops one-off management bonus option after stockholder criticism.
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PeopleTelefónica alumnus tapped for state’s expanded Indra interest
Communications director Sergio Sánchez reportedly added to board at former Telefónica investment Indra Sistemas. News follows a 10% increase in the Spanish government’s shareholding in the company and adds to apparent power struggle in the boardroom.
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CorporateDT under fire over proposed Höttges pay hike
DT CEO said to be in line for maximum annual compensation of €9.1m. Frank Appel and DT’s US chiefs earned more than Höttges in 2020.
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PeopleOpenreach’s McTighe emerges as frontrunner for Ofcom chair
Mike McTighe, Chairman at Openreach, reportedly on the shortlist to oversee regulator. Drawn-out search for Lord Burns’ successor sees another BT-affiliated name on the cards.
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PeopleTelefónica shuffles and slims security unit leadership
Telefónica Ingeniería de Seguridad takes on parent’s corporate leadership model. Changes to chairman and a handful of directors, with Group executives swapped for Tech names.
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OperationsDeutsche Telekom rocks with AC–DC to save power
DT’s Plasma energy-reduction initiative expected to save more than 90GWh with upgrade of rectifier systems.
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PeopleEx-chair du Plessis wants to “move on” from BT exit
Jan du Plessis describes BT chairmanship as “not a great time”, but remains confident in Group strategy under CEO Jansen. Unceremonious resignation came amid reports of falling-out between the pair. Newly knighted du Plessis now teed up for UK audit watchdog role.
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PeopleAppel pick for new chair creates controversy
Appel’s dual role at Deutsche Post and DT criticised as sending the “wrong signal”. Both Groups take steps to counter violation of German Corporate Governance Code.
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PeopleTelefónica reshapes board of directors
Group cuts board seats from 17 to 15, with representation from shareholders BBVA and CaixaBank halved. Ignacio Moreno and Jordi Gual to instead shift to roles at Telefónica España and Brazil’s Vivo.
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M&ADefences up as Drahi increases BT stake
Patrick Drahi’s Altice UK stops short of a takeover bid, but increases holding to 18%. UK government issues warning that it “will not hesitate” to protect national interests amid concerns of foreign investment in critical infrastructure incumbent. Takeover not Drahi’s ‘intention’, but caveats are in place.
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PeopleDeutsche Post’s Frank Appel linked with DT chair
Deutsche Telekom’s long-running search for its next chairman looks set to come to a close before the end of the year, with Deutsche Post CEO Frank Appel rumoured to be leading the pack. DT CEO Tim Höttges reportedly to be given mandate extension.
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Innovation (R&D)New TelcoX research from TelcoTitans: state-of-play with Vodafone’s data drive
Survey provides exclusive insight into Vodafone executives’ perceptions of key suppliers. Including special focus on where operator is at with data adoption, to drive efficiencies and speed to market. Top ongoing challenges include organisational and technical bottlenecks.
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CorporateDT sees shareholder dissent over exec pay: report
Georgeson flags DT among big European companies facing increased dissent from institutional investors over exec remuneration. BlackRock unhappy about growing trend among firms to contrive large bonuses from changing previously agreed performance metrics. Unclear if DT falls into this category.
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PeopleSievert ranked highest paid US telco CEO
T-Mobile US CEO overtakes previous US telecoms front-runner Mike Fries. Sprint takeover turbo charges DT executive compensation in FY20.
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PeopleBT confirms Crozier as ‘turnaround’ chair
Former ITV CEO unanimously picked to replace Jan du Plessis, with BT highlighting his experience in changing the fortunes of struggling public and private businesses. Digital evolution and a return to growth highlighted as key priorities for Crozier-era BT.
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PeopleBT targets serial moderniser to back Jansen transformation
Strong media rumours emerged identifying former Royal Mail Chief Executive Adam Crozier as the likely Chairman-successor to du Plessis, reflecting continued pressure on BT to accelerate restructuring. Crozier would come with little direct digital background, but considerable experience of shaking up venerable institutions, and with recent experience linked to ...
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Strategy & ChangeShuter shake-up preps BT Enterprise for growth
New CEO Rob Shuter presented his plan for BT Enterprise. He’s shaking things up for future growth, but first priority is stabilising revenue decline. Revamped organisation tightens commercial focus on customer segments. New Division X to place bets in high-growth areas, with inorganic ventures aligned with BT Digital agenda. ...
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OperationsFour-day weeks and home working at Telefónica
“Avant-garde” union deal writes in provisions for permanent hybrid working for 15,000 employees. Four-day week pilot promised for volunteer employees, with an accompanying drop in pay. 1% salary increase also flagged.
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Strategy & ChangeVan Boxmeer gifted remit to disrupt Vodafone Board
Latest Board Evaluation calls for increased “liveliness” of conversations across the Group’s top table. Composition changes mooted for dozen-strong grouping brought together by former Chairman Gerard Kleisterlee. Start of TechCo strategy seen as moment to strengthen accountability of top duo Read and Della Valle.
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Financial & PerformanceDT’s top team drops €4m on shares
Leadership puts money where its mouth is following ambitious mid-term strategy update. German operator seeking to boost T-Share perceptions and align with T-Mobile US’ rising valuation.