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BT CEO to step down after poorly received recovery plan

Reuters  |  LONDON 

LONDON (Reuters) - BT Group's Chief Executive Gavin Patterson will step down later this year after the British telecoms company's chairman said a change in leadership was needed.Patterson, who has led BT for almost five years, announced 13,000 job cuts last month in an attempt to address multiple pressures on the business.But a failure to hit a revenue target and a forecast for flat profits for the next couple of years sent its shares down to near six-year lows.Chairman Jan du Plessis said the board was fully supportive of Patterson's strategy but that a new leader was needed."The broader ...

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First Published: Fri, June 08 2018. 12:43 IST