BT appoints new FD

Telecommunications giant BT Group has appointed the former chief financial officer of BG Group as new finance director.

Simon Lowth, who has been chief financial officer, and served on the boards, of three major publicly listed companies - BG Group, AstraZeneca and ScottishPower - over the past eleven years, is known for driving cost transformation, BT said in a statement.

He will join the company on July 4 and will replace BT’s current Finance Director, Tony Chanmugam, following a handover period.

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Mr Chanmugam will then move to focus on integrating the mobile network provider EE into BT, for a period of time.

Most recently, Mr Lowth was CFO and executive director of oil and gas giant BG Group plc. Having joined BG Group in November 2013, Simon had board level responsibility for the company’s finance, internal audit, risk management, investor relations, corporate strategy and merger and acquisition activities.

He stepped down in February 2016, following its £35bn takeover by Royal Dutch Shell.

Mr Lowth said: “I’m delighted to be joining BT at such an exciting time. Having acquired one of the UK’s leading mobile operators and with superfast fibre broadband available to well over 24 million homes,

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“BT is well-placed for growth in consumer, business and wholesale markets. I look forward to working with Gavin Patterson [chief executive] and the rest of BT’s strong team to build upon the solid strategic and financial foundations already in place.”

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