BT Appoints Sir Michael Rake as its Next Chairman

Sir Michael Rake, the current chairman of KPMG International will succeed Sir Christopher Bland as chairman of BT in September 2007.

BT says Sir Michael is one of the world’s most experienced and influential accountants. KPMG is among the world’s leading accountancy firms. It has a global fee income of $17 billion. It is represented in 148 countries and employs 113,000 people, including 7,000 partners. Sir Michael has played a pivotal role in growing the company’s business around the world. He will bring extensive international experience to BT as it continues to expand its global business.

Sir Michael said today: “I am thrilled to be joining a company which has achieved so much in recent years and has such ambition for the future. Sir Christopher Bland has done a magnificent job setting BT on a secure financial footing and developing a strategy for the future. Ben Verwaayen leads an outstanding team. I look forward to working closely with him, the board and my new colleagues. I feel extremely enthusiastic about helping to build upon the success of a company which has already given Britain a position of international leadership in broadband availability and has established itself as a world leader in networked IT services.”

Welcoming the appointment, Sir Christopher said: “On behalf of the board I am delighted to be handing over the chairmanship of BT to such a distinguished international businessman. Michael has demonstrated outstanding leadership of a major global organisation during a time of considerable turbulence and change. I have every confidence that he will bring those same qualities of leadership to BT.”

BT CEO Ben Verwaayen added: “I congratulate Michael on his outstanding achievement at KPMG. I am excited at the prospect of working together with him at BT. We have accomplished a great deal, but there is still much more work to be done building BT’s global presence and ensuring that the UK stays at the forefront of the broadband revolution. Throughout his career Michael has demonstrated both dynamism and vision. These are qualities that will help BT succeed through the next phase of its transformation.”

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