BT group finance director Tony Chanmugam to step down

BT has confirmed it has begun the search for a new group finance director after it admitted Tony Chanmugam will leave the broadband provider later this year.

The telco business said that “no formal decision has been taken on a replacement or around the potential timing of any change”.

Chanmugam, who has served as BT’s group FD since 2008, steps down after the company reported its best quarterly revenue growth in more than seven years and the completion of its £12.5bn deal to acquire mobile network EE.

A 20-year veteran of the company, Chanmugam is credited as one of the chief arcitechts behind BT’s move from telco provider to multi-media broadband provider and sports broadcaster. 

Chanmugam previously served as CFO of BT Retail before moving up to group finance director in 2008, months after BT had warned on profits as it emerged that BT Global Services – the division that served the telecoms and IT needs of multinational companies – had overestimated the potential profitability of many of its biggest contracts.