judgecorp writes: BT chief Ian Livingston is leaving the British telecom provider to become a government minister. The executive has been appointed a seat in the House of Lords, which enables him to become Minister for Trade and Investment without having to be elected as a Member of the lower house of Parliament. Livingston has seen BT go from a £134 million loss in 2008 when he was appointed, to a profit of £2.5 billion in 2012. It still has a monopoly over certain sectors of the British telecom market, and has won all the contracts so far for rolling out broadband to rural areas.
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