BT chief Verwaayen to step down

Telecoms group BT today said chief executive Ben Verwaayen will step down at the end of May after more than six years at the helm.

His position will be taken by Ian Livingston, who is currently chief executive of BT’s retail arm.

BT chairman Mike Rake described Mr Verwaayen as an “exceptional” chief executive and said he had transformed BT from a “deeply troubled” organisation into a thriving business.