Diageo’s outgoing chief financial officer Nick Rose will join BT’s board as a non-executive director from 1 January 2011, adding to his existing non-executive role with BAE Systems.
The company said that Rose would specifically focus on raising its capabilities in assessing audit and risk issues. He is a member of BAE’s audit committee.
BT’s audit practices came under the spotlight last July when it said it undertook a review of its internal audit practices after it was forced to make a £1.6bn writedown in its Global Services division for 2008-9. BT then asked its auditor PricewaterhouseCoopers to change the partners it had working on the company’s audit – a rare occurrence and rarer yet to be made public.
“BT has transformed itself over the last couple of years, so it’s a very exciting time to be joining the board,” Rose said of his appointment.
Rose was appointed as Diageo’s CFO in July 1999 and retires from the role on 31 December 2010.
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