BT recruits Simon Lowth as new finance director

BT has hired Simon Lowth to take over from outgoing group finance director Tony Chanmugam.

BT (LSE:BT) has hired Simon Lowth to take over from outgoing group finance director Tony Chanmugam.

Lowth will join on 4 July and also become an executive board director, taking over Chanmugan’s role following a handover period.

Chanmugam will move on to focus on the integration of recently acquired EE before he leaves the group later this year. His departure was announced last month when BT disclosed it had enlisted recruitment firm Egon Zehnder to find his replacement.

The CFO of EE, Neal Milsom, departed in January following the closing of its sale to BT.

Lowth said: “I look forward to working with Gavin Patterson and the rest of BT’s strong team to build upon the solid strategic and financial foundations already in place.”

Lowth was CFO and executive director of oil and gas giant BG Group until February when he left following its £35bn (US$51m) takeover by Royal Dutch Shell. Prior to that, he was CFO of AstraZeneca until 2013.

Gavin Patterson, BT CEO, commented: “Simon brings a wealth of experience to BT, having served as CFO and a board director for a number of major international companies, and I’m so thrilled he’s joining.”

Patterson also thanked Chanmugam for his contribution to BT, praising the role he has played in BT’s cost transformation and strategic direction.