BT's Chairman Bland signs up until 2007

'Overseen a huge period of change'

BT's chairman, Sir Christopher Bland, is to stay at the company until 2007, the monster telco confirmed today.

The Southampton FC supporter and former BBC man has signed a new contract entitling him to an annual salary of £500,000 ($788,450), although this means that he will not be eligible to receive an annual bonus, the company said in a statement.

Bland, 65, became chairman in May 2001 replacing Sir Ian Vallance.

During his time at the telco he has overseen debt reduction from almost £30 billion to under £10 billion, managed the demerger of mobile operation MMO2 and the witnessed sale of Yell.

"He's overseen a huge period of change at BT," said a BT bod.

Last year, Bland revealed that when he took over the job he drew up a "to do" list.

In a newspaper interview he revealed that among the items on the list was a Rights Issue, an idea to demerge BT's wireless business, a bid to reshape the Board, and the appointment of a new chief exec to replace the then boss, Sir Peter Bonfield. ®

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