BT approaches former Ofcom boss for vacant CEO role

The position was left vacant by Gavin Patterson, who ended his five-year stint in the role in June, after the broadband and mobile provider’s chairman said a new leader was needed to restructure the company.

His exit from the company followed his failure to meet revenue targets and shareholder concern over BT’s share price performance, with the stock having dropped by roughly 23% over the last year, which had been punctuated by battles with Ofcom and an accounting scandal within BT’s Italian division.

The company’s new chairman, Jan du Plessis, is understood to be aiming to announce a new chief executive by October, according to Sky.

Carter, who is currently chief executive of London-listed exhibitions operator Informa, has reportedly been approached regarding the vacancy, but Sky cited an anonymous friend of the Labour party peer who described him as "not a candidate" and "not part of any recruitment process".

However, his past experience with Ofcom could certainly prove useful as BT looks to strengthen its relationship with the regulator and meet newly-introduced regulations.

Other tasks a new chief executive could face include cutting costs as per Patterson’s strategy and upgrading the UK's broadband infrastructure.

BT’s shares were down 1.13% at 224.59p at 1644 BST.