Sir Peter Bonfield, chief executive of BT, is rumoured to be planning to leave his post six months earlier than planned.
According to Friday's Financial Times, Bonfield is thought likely to stand down next summer. His contract runs until the end of 2002, but it seems likely that the restructuring strategy that he is co-ordinating will be completed earlier than planned. The FT attributes its story to un-attributed comments made by "a number of people involved" in this process, and tips Pierre Danon -- head of BT retail -- as a likely successor.
BT officials are refusing to shed any light on the rumours. "The story is just speculation about speculation," said a BT spokesman. "Sir Peter Bonfield has made no public statement on the matter".
BT said earlier this week that it was no longer planning to split its retail business from its network operations. This move was at the heart of the restructuring strategy that Bonfield was heading, and its cancellation means the process is unlikely to last until the end of 2002, as previously thought. According to rumours, BT will conclude the break-up of Concert, its joint venture with AT&T, next week.
Last year the head of e-business at the Institute of Directors Jim Norton called for Bonfield to be sacked, claiming he had lost the plot over local-loop unbundling and ADSL rollout.
In Bonfield's defence, incumbent operators in many other European countries have been having an pretty hard time recently as well.
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