Lowth receives FD call from BT
Simon Lowth will join BT Group in July as Group Finance Director and an executive board director.
Mr Lowth brings a wealth of experience to BT having been CFO, and served on the boards, of three major publicly listed companies – BG Group, AstraZeneca and ScottishPower – over the past eleven years. He has also been non-executive director at Standard Chartered Bank since 2010.
He will join the company on 4 July and will replace BT’s current Finance Director, Tony Chanmugam who will move to focus on integrating the mobile network provider EE into BT.
Most recently, Mr Lowth was CFO and executive director of oil and gas giant BG Group. He stepped down last month following its £35 billion takeover by Royal Dutch Shell.
Today he said: “I’m delighted to be joining BT at such an exciting time. Having acquired one of the UK’s leading mobile operators and with superfast fibre broadband available to well over 24 million homes, BT is well-placed for growth in consumer, business and wholesale markets. I look forward to working with Gavin Patterson and the rest of BT’s strong team to build upon the solid strategic and financial foundations already in place.”
Gavin Patterson, BT Group Chief Executive said: “Simon brings a wealth of experience to BT, having served as CFO and a board director for a number of major international companies, and I’m thrilled he’s joining. On top of his solid financial acumen, his strong organisational leadership and engineering experience at a number of leading infrastructure companies will be a real asset for BT.
“I’d also like to thank Tony Chanmugam for his tremendous hard work, commitment and the strong results that he has delivered during his career at BT. BT is a much stronger business today as a result of the phenomenal role Tony has played in BT’s cost transformation and strategic direction. I wish him all the best in his future enterprises.”
Before BG Group, Mr Lowth was CFO of AstraZeneca and served as an executive director on its board from November 2007.
He worked at ScottishPower from 2003 to 2007. As Corporate Strategy Director, he chaired the company’s risk and investment committees and moved the company’s strategic focus to growth through organic investment. In 2005, he was appointed Finance Director.
His move to ScottishPower in 2003 followed 15 years’ experience with the global management consultancy, McKinsey & Company, latterly as a senior director responsible for the firm’s UK industrial practice where he advised leading multinational companies on a wide range of strategic, financial and operational issues.
Mr Lowth aged 54, has an engineering degree from Cambridge University and an MBA from London Business School.