Worldpay’s boss Philip Jansen in line for top job at BT as Patterson departs
The departing boss of debit card payments processor Worldpay looks set to take the top job at BT.
Philip Jansen is understood to be BT’s preferred candidate to replace Gavin Patterson who is stepping down this year following a prolonged share price slump.
The 51-year-old floated Worldpay on the stock market in 2015 before it was taken over by Vantiv for £9billion last year.
Top job: Philip Jansen could become BT’s new chief executive
Worldpay handled 15billion credit and debit card payments in 2016, dealing with more than 40 per cent of such payments in the UK.
Patterson was asked to resign from BT by chairman Jan du Plessis earlier this year. He was heavily criticised for ploughing billions into TV sports rights while leaving customers with sluggish internet speeds and poor service.
In May, he unveiled a turnaround plan that included the loss of 13,000 jobs – but it was clear investors had lost confidence in him.
In a final humiliation in July, 34.2 per cent of shareholders voted against the company’s remuneration report after Patterson was given a £962,000 pay rise.
The 50-year-old trousered a total of £2.3million last year, taking his earnings since becoming chief executive in September 2013 to £16.5million.