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Verwaayen is proud of this achievement. “We have the best coverage in the G7 and almost the best coverage in the world,” he said.

BT already makes a lot of additional sales on the back of broadband — firewall and security packages, software from Microsoft and from Siebel.

But for Verwaayen this is only phase one. The real opportunity is to use broadband as a platform to deliver advanced video-based services, including entertainment.

An even bigger “new wave” success is BT Global Services, which builds and runs computer networks for large organisations. It has won an impressive list of security-conscious customers, including the NHS, the European Commission, Nato and Unilever.

Verwaayen said this was a market it had not penetrated three years ago. “We’ve done phenomenally well. We’re winning business around the world.”

BT Global’s success is startling when compared with BT’s past international mishaps, including the disastrous Concert joint venture with AT&T. Verwaayen insisted that the group’s recent acquisitions — of Infonet and Radianz in America, and of Albacom in Italy — will not lead to a repeat of past losses.

These were targeted acquisitions to enhance BT’s capabilities, he said. “They are not international because we want to be located in other countries. They are international because the customer’s business is in other countries. The old BT went international to go global. With a customer like Unilever, wherever they go, we go.”

For the most part, Verwaayen appears relaxed about the threat posed by Ofcom, which is coming to the end of a year-long review of the telecoms sector. The regulator is expected to require BT to make substantial behavioural and other changes to ensure that its rivals have access to the national network on the same terms as BT Retail.

However, Verwaayen is concerned about Ofcom’s emphasis on local loop unbundling (LLU) — the initiative that allows rival firms to install their own equipment in BT’s exchanges, enabling them to offer more advanced services, such as high-speed broadband suitable for television.

Ofcom regards LLU as a way of bolstering the competition to BT and accelerating the broadband revolution.

But Verwaayen argues that Ofcom’s focus on LLU is flawed, because it is not economic outside large urban areas. Only the largest 600 exchanges are suitable for LLU, he said, and they cover just 40% of the population.

“What about the other 60%? What if your business is in Swansea or Southampton? We need to make sure that telecoms are available wherever business is located,” said Verwaayen.

BT is lobbying to be allowed to offer other wholesale products that would make advanced broadband services available nationwide.

Though he has yet to make himself at home in his office, Verwaayen shows few signs of looking to leave. “I love it here,” he said. “It’s a great company. I feel great passion for the people here. We’re determined to make it a success. Turning a company that people loved to hate into a ‘wow’ company is an interesting task.”