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BT finance director quits amid share price pressure

Robert Brace, group finance director at BT, has resigned from his position at the UK telco, stepping down from the board.

By Tony Hallett

Published: 6 October 2000 17:30 BST

Brace, 50, served with BT for over 11 years but has come under intense pressure in recent months as the company's share price halved and profits dropped. Philip Hampton, who is currently finance director at utility BG Group, will replace him on 1 November.

BT's shares rose more than 7 per cent in trading on Friday afternoon, spurring on the UK's FTSE 100 index.

Brace said he plans to live and work in North America.

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