ICL Plc on Friday lost its its highly-regarded chairman and chief executive Peter Bonfield to British Telecommunications Plc. British Telecom is splitting the posts of chairman and chief executive and Sir Iain Vallance will continue as chairman while Bonfield takes over as chief executive. Keith Todd, currently finance and business strategy director at ICL is to step up to become chief executive. The changes take place at the end of the year. Sir Colin Marshall, chairman of British Airways and a non-executive director at British Telecom will become deputy chairman in succession to Paul Bosonnet, who is retiring. Group managing director Michael Hepher will also be leaving the company, but he quickly denied speculation that he might be just the man Cable & Wireless Plc was looking for to become its new chief executive.Over at ICL, it said the announcement was not a precursor to board reshuffles and said that Bonfield had left with the full agreement of the ICL Plc board, Fujitsu Ltd, ICL’s major shareholder, and Northern Telecom Ltd. Bonfield will anyay remain on the ICL board as its deputy chairman.
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