Patterson out at BT

Gavin Patterson, BT CEO, is leaving after five years in the post. The company said it would recruit a successor in the second half of the year, and Patterson would remain until that time.

Shares in the company are at a six-year low and three weeks ago it announced an ambitious restructuring including 13,000 job cuts. Days later, the company revealed Patterson was paid £2.3 million (€2.6m) last year, including a £1.3 million bonus. The company said he would “not now be receiving the 2018 incentive share plan award”, which was set out in the latest annual report.

Source: Patterson out at BT