BT of the UK yesterday revealed the identity of its next Chairman.Sir Michael Rake is set to take over from incumbent Sir Christopher Bland this September.Rake has spent more than 30 years at accountants KPMG, latterly as its International Chairman.

Much will depend on Rake’s relationship with BT CEO Ben Verwaayen (he is not a ‘Sir’ since as a Dutchman, he is classified as a foreign devil and therefore not worthy under the UK’s outdated system of ‘honours’.

Inevitably, the insider jokes doing the rounds within hours of Rake’s appointment being announced centred on his past in accountancy. Given his background, will he be able to ensure that BT avoids falling into one of accounting black holes that many still believe lie in wait for old-style telcos? Or will he just rely on his past experience and be better at concealing them from regulators, investors and the wider public?
Jim Chalmers