British Telecommunications PLC
6 October 2000
ROBERT BRACE DECIDES TO LEAVE BT
BT's group finance director, Robert Brace, today announced that he
has decided to leave BT and step down from the Board after more
than 11 years with the company. He will be replaced by Philip
Hampton.
Robert Brace, 50, said: 'I have been group finance
director of BT during some of the most exciting and challenging
times in the history of the company.
'I have enjoyed myself immensely during this period.
However, I would like a change and I am planning to live and work
in North America.'
Sir Peter Bonfield, BT's chief executive, said:
'Robert has been a key member of the BT management team for 11
years. We have worked closely together over the past four years,
and he has given me tremendous support as we have endeavoured to
change the shape of BT into a growth business. He leaves with my
best wishes.
'I am pleased to announce the appointment of Philip
Hampton as Robert's successor. He brings a range of skills and
experience to the challenges ahead, and I look forward to working
with him and welcoming him to our team.'
Philip Hampton, who is currently group finance director
of the BG Group, will take up his position and join the BT Board
with effect from November 1, and Robert Brace will leave in
December.
Philip Hampton said: 'I am delighted to be joining BT as
group finance director. I have great admiration for the company
and look forward to working with Sir Peter and his team.'
BIOGRAPHICAL DETAILS:
Philip Hampton, 47, is a board member of BG Group with
responsibility for the company's finance. He joined the
auditors Coopers & Lybrand, London, in 1975, and worked in
corporate finance, mainly on mergers and acquisitions and capital
markets. In 1986 he was seconded to Lazard Freres, New York, and
worked extensively also with Lazard Freres in Paris. In 1987,
Philip Hampton was appointed executive director of Lazard
Brothers. From 1990, he worked for British Steel plc, becoming
executive director for finance in 1991. He took up his current
appointment in July, 1996. Philip Hampton graduated from Lincoln
College, Oxford, where he gained an MA in English in 1975. He
qualified as a chartered accountant in 1978 and is an Associate of
the Institute of Chartered Accountants. He attended INSEAD in
Fontainebleau, France, in 1980, gaining an MBA. He lives in Surrey
with his wife and two sons. His interests include history, sailing
and skiing.
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