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BT boss Patterson steps down after investors lose faith

Reuters  |  LONDON 

By Paul SandleLONDON (Reuters) - BT Group's Chief Executive Gavin Patterson will step down this year after its chairman said a new leader was needed to restructure Britain's biggest broadband and mobile provider.Patterson, who has run BT for almost five years, announced 13,000 job cuts last month in an attempt to get to grips with a host of problems including intense competition, an underperforming IT services unit, a huge pension deficit and criticism of its broadband plans.But a failure to hit a revenue target and a forecast for no growth in profit for the next couple of years sent its ...

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First Published: Fri, June 08 2018. 16:06 IST