Top BT executive in bid to rescue LogicaCMG

Andy Green, 52, a top BT executive is leaving as BT’s head of strategy and operations to try and rescue LogicaCMG for a massive £5.6 million package. Mr Green said he was ready for a leadership role and added that LogicaCMG will benefit from his international business experience and his ability to integrate and organise complex large organisations.

Green’s two main objectives are to increase sales from current customers and to focus on integration of recent acquisitions.
Following the announcement, shares in LogicaCMG rose the most in over 4 years in London trading yesterday.

The Anglo-Dutch technology giant has been without a chief executive for over 4 months since Martin Read, the boss of 14 years, left after another disappointing set of results and fears for the company’s UK performance.

Martin Read’s departure provoked a clear-out in the boardroom at LogicaCMG. Cor Stuttenheim, the Chairman, left and Didier Herrmann, a senior executive, was asked to step down.

Andy Green’s package exceeds £3.3 million. He has also been granted 2.1 million shares in LogicaCMG and given a £200,000 cheque. Furthermore, he is to receive an annual income of £700,000 and £210,000 will be paid into his pension each year.

LogicaCMG said it would benefit from Green’s international experience as it has suffered from falling profit margins due to a slump in Britain and France in the first half.

LogicaCMG was formed in 2002 following merger of Logica and CMG. It bought the Swedish company WM-data and the French company Unilog last year.

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