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BT's Bland extends contract

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Aug 29, 2003

BT Group announced today that its chairman Sir Christopher Bland has signed a new contract to stay on at the company until 2007. BT said that in line with his previous contract, Bland, who became chairman on 1 May 2001, replacing Sir Ian Vallance, will receive a salary of £500,000 per annum, and will not, as before, receive an annual bonus. Since he took over as chairman, Bland has overseen debt reduction from almost £30bn to £10bn, managed the demerger of o2 and witnessed the sale of Yell.

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