BT Group: chief executive to step down later in the year

(CercleFinance.com) - British telecommunications giant BT Group said on Friday that Gavin Patterson, its Chief Executive since 2013, will step down later in the year.


In a press release issued this morning, BT said it has begun a search for his successor, expecting to appoint a new CEO in place in the second half of the year.

As BT Chief Executive, Gavin Patterson particularly participated in the launch of BT Sport, and the purchase and integration of EE.

"The change could be positive in terms of resetting the relationship with Ofcom/government," analysts at UBS commented this morning.

The BT share is currently up 0.8% at 204.5 pence after the announcement.

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