BT names Patricia Cobian as first female CFO in company history
Finance veteran to join telecom giant in 2025 as long-serving CFO Simon Lowth prepares to retire
Finance veteran to join telecom giant in 2025 as long-serving CFO Simon Lowth prepares to retire
BT Group has announced the appointment of Patricia Cobian as its next Chief Financial Officer, making her the first woman to hold the role in the company’s history.
Currently CFO at Virgin Media O2, Cobian will join the UK telecoms giant in summer 2025, succeeding Simon Lowth, who is set to retire after nearly a decade in the role.
Cobian’s appointment marks a significant leadership change as BT advances its cost-cutting and infrastructure investment plans.
The company is in the midst of a major transformation, including a target to reduce its workforce by up to 40,000 roles and achieve £3 billion in cost savings by 2030. BT is also pushing ahead with its national fibre rollout, now reaching over 19 million premises.
BT CEO Allison Kirkby, who took the helm last year, welcomed Cobian’s appointment, citing her “leadership, deep industry experience and knowledge” as critical assets for the business.
“As we continue our once-in-a-generation upgrade of the UK’s digital infrastructure and accelerate BT’s modernisation, Patricia’s contribution will be invaluable,” Kirkby said in a statement.
Lowth, who joined BT as CFO in July 2016, played a central role in reshaping the company’s strategic priorities and implementing its current efficiency drive.
His departure next summer will mark the end of an eight-year tenure during which BT navigated industry shifts, regulatory scrutiny, and increased competition in both broadband and mobile markets.
Cobian has been a leading finance figure in UK telecommunications for over a decade. She first became CFO of O2 UK in 2016 and continued in the role following the creation of Virgin Media O2 in 2021—a joint venture between Telefónica and Liberty Global.
BT’s announcement came alongside a trading update, in which the company reported a 1% drop in core first-quarter earnings.
The decline was driven by reduced legacy voice revenue and weaker handset sales, though offset in part by strong demand for fibre broadband. BT maintained that it remains on track to meet its full-year financial guidance.
Cobian’s appointment comes as BT considers narrowing its international focus and potentially divesting its overseas units. Her arrival signals the company’s intent to maintain financial discipline while executing one of the most ambitious infrastructure upgrades in its history.