BT has dismissed reports that CE Sir Peter Bonfield is to quit at the end of the year with a £4 million-ish pay-off.

London's Evening Standard reports that Sir Peter's departure is "likely to follow the demerger of BT's mobile phone arm, BT Wireless, scheduled for the autumn".

Quoting an unnamed source it claims Sir Peter's departure at this time would be a "a logical cut-off point for Peter".

A spokesman for BT said: "I don't know where this story has come from.

"As far as we are concerned there is no truth in it," he said.

Last month the dandy Sir Peter said he "was not a quitter" and had no intention of leaving the job early. His current contract is reportedly due to expire at the end of 2002. ®

Related Link and Story

Bonfield set to quit BT early - Evening Standard
'I'm not a quitter and I love my critics' - BT's Bonfield