BT Group CEO Gavin Patterson to Step Down Later This Year
08 June 2018 - 4:48PM
Dow Jones News
By Adria Calatayud
BT Group PLC (BT.A.LN) said Friday that Chief Executive Gavin
Patterson will step down later in the year, after five years in the
role, and that it has started a search for a successor.
News of Mr. Patterson's departure comes less than a month after
the U.K. telecommunications company launched its largest
restructuring in a decade, with plans to cut 13,000 jobs. BT said
its board remains fully supportive of the strategy recently set out
by Mr. Patterson and his team.
"The broader reaction to our recent results announcement has
demonstrated to Gavin and me that there is a need for a change of
leadership to deliver this strategy," BT Chairman Jan du Plessis
said.
BT said Mr. Patterson will continue as CEO until the company has
a successor in place, which is expected to happen in the second
half of the year.
Write to Adria Calatayud at
adria.calatayudvaello@dowjones.com
(END) Dow Jones Newswires
June 08, 2018 02:33 ET (06:33 GMT)
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