BT Group CEO Gavin Patterson Plans To Resign At Year-end - Quick Facts

(RTTNews) - BT Group PLC (BT_A.L, BT.L) announced Friday that Chief Executive Gavin Patterson will be stepping down later in the year.

The Board has commenced a search to identify his successor, who is expected to be in place during the second half of the year. Until such time, Patterson will continue to serve as Chief Executive.

Patterson has lead BT since 2013, and has served as a member of the Board for the last 10 years.

Jan du Plessis, Chairman of BT said, "The Board is fully supportive of the strategy recently set out by Gavin and his team. The broader reaction to our recent results announcement has though demonstrated to Gavin and me that there is a need for a change of leadership to deliver this strategy. To that end a number of concrete initiatives have already been launched and Gavin's commitment to continue to lead the business during this transition phase will provide invaluable continuity."