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BT CEO to step down later in 2018

Jun. 08, 2018 4:19 AM ETBT Group plc (BT) StockBTBy: Yoel Minkoff, SA News Editor2 Comments
  • Gavin Patterson, who has led BT Group (NYSE:BT) for almost five years, is stepping down just a month after announcing 13,000 job cuts across the company.
  • Chairman Jan du Plessis said the board was fully supportive of his strategy but that a new CEO was needed.
  • A failure to hit a revenue target and a forecast for flat profits for the next couple of years previously sent shares to near six-year lows.

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