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BT's Chairman Bland signs up until 2007

'Overseen a huge period of change'

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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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