BT has put an end to speculation over Sir Peter Bonfield's successor, today naming Lucent vice chairman Ben Verwaayen as the next man to climb into the saddle.
Verwaayen will assume the role of chief executive designate on 14 January, taking full control on 1 February.
He will be joining the telco on a basic salary of £700,000, and £3m worth of stock. BT shares took a two per cent dive on the back of the announcement.
Verwaayen's initial contract will be for two years, followed by a one-year rolling contract.
Bonfield had stepped down a year earlier than expected, after taking a large portion of the blame for racking up £30bn in debt for the company.
The challenge will be for Verwaayen to help tip the financial balance in a positive direction, although Lucent has suffered similar losses and company restructuring.
Previous positions held by Verwaayen include 10 years as president and managing director at KPN subsidiary PTT Telecom.
The skeleton was unearthed more than 20 years ago in South Africa
Moon's dark side is mountainous, rugged and never visible from the Earth
The groundwater basins in some areas of Tehran have been damaged irreversibly
This is the first time that any spacecraft on Mars has recorded air vibrations on the planet