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BT Names New CFO

9:00 AM -- BT Group plc (NYSE: BT; London: BTA) has stuck with "one of its own" to fill its vacant CFO chair: Tony Chanmugam, who has held senior finance positions at BT for more than 10 years, has been elevated from CFO of the carrier's Retail business unit to be Group Finance Director.

The position became vacant when previous CFO Hanif Lalani was made head of BT Global Services at the end of October, replacing François Barrault. (See BT's Barrault Bolts.)

In today's press release announcing the appointment, BT's CEO Ian Livingston stated that Chanmugam "will now accelerate the pace of change across BT," a process that involves a significant reduction in the operator's workforce. (See BT Adds to Headcount Cull.)

— Ray Le Maistre, International News Editor, Light Reading

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