Patterson to step down as BT Group CEO later in 2018

Patterson to step down as BT Group CEO later in 2018

BT chairman Jan du Plessis said that while Mr Patterson had the backing of the board, wider support was starting to wane.

BT announced last month that it is to axe 13,000 jobs over the next three years, 12 per cent of its global workforce.

"The broader reaction to our recent results announcement has though demonstrated to Gavin and me that there is a need for a change of leadership to deliver this strategy", he said.

The UK group said in a statement on Friday that Gavin Patterson would leave his job later this year.

Patterson, who served 14 years at the company, five of those as CEO, will stay at the company until BT has appointed his successor.

Patterson said 15 months ago that BT had been taken aback by the flak it had received about the company's customer service and its networks, and he vowed that its millions of customers would see improvements.

In January last year, BT wrote down the value of its Italian unit by £530m after it said it had uncovered years of "inappropriate behaviour".


During his tenure at BT, Patterson steered the organisation through a gruelling Ofcom Market Review that ultimately resulted in the legal separation of BT from its network infrastructure business Openreach.

Days after the news of the job cuts, BT revealed Patterson was paid £2.3m past year, including a £1.3m bonus and a 1.5% rise in his basic salary. After his departure was announced, the shares were up by 1.2 percent.

But the subsequent decline in the share price showed investors were not on side.

Mr Patterson became managing director of BT's consumer division in 2004.

"The new chief executive is expected to start later this year, and with the shares at a six-year low, steadying the ship will be their first task", said Khalaf.

"It's been an honour to lead BT since 2013, and serve as a member of the Board for the last 10 years".

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