- 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.