Stagg’s replacement will be announced in due course. He has led BT Wholesale, which serves third-party operators that prefer to rely on BT than build out their own networks, since 2011. The unit generated revenues of £2.2 billion (€2.9 billion) in 2014-2015 and EBITDA of £561 million.
“I have nothing but respect and admiration for the tremendous people in BT and I wish them continued success. It has been a pleasure to work with so many talented people over many years,” said Stagg.