BT chairman to be replaced by Sir Marconi
That's the word in the City
BT remained tight-lipped about the future of its chairman, Sir Iain Vallance, following reports that the monster telco has lined up the head of Marconi for the job.
Observers are convinced Sir Iain will step down later this year despite BT's insistence that his contract doesn't expire until 2002.
And now Sir Roger Hurn, chairman of Marconi, has been fingered as the successor, according to City Web site, CSQUEST.com.
The early departure of Sir Iain is perceived as essential if BT is to turn itself around.
However, today's Sun sums up what many critics feel.
It's City Comment said: "Telecoms is a global business in which BT chairman Sir Iain Vallance looks totally lost. He should go NOW." ®
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