BT boss Gavin Patterson to step down

Reuters

BT ceo, Gavin Patterson, is leaving the telecom giant after five years in the post.

The company said that it would have a successor in the second half of the year, and Mr. Patterson will remain in his position until that time.

Mr. Patterson has been at BT for 14 years, 10 as a member of the board of directors.

The company’s shares are at a six-year low. Last month, the company announced an ambitious restructuring program.

BT chairman Jan du Plessis said: “The board fully supports the strategy recently presented by Gavin and his team.

“The overall reaction to our recent announcement of the results, however, have demonstrated to Gavin and me that there is a need for a change of leadership to deliver this strategy.”

Mr Patterson said: “It has been an honor to lead BT since 2013 and serve as a member of the board of directors for the past 10 years.

“BT is a great company, and with the new management team, I’ve recently put in place is, I believe, very well placed to thrive in the future.”