- Push-out Score determined
- After about five years in the position
- Thanks for Patterson
- Search for a successor
- Patterson spoke at length and said 124 words
(exechange) — London, United Kingdom, June 8, 2018 — Gavin Patterson, chief executive of BT Group, leaves. As announced by BT Group plc in a regulatory filing published on Friday, June 8, 2018, Gavin E. Patterson leaves his post as Chief Executive Officer at the telecommunications company after about five years in the role, effective later in the year.
Patterson’s move comes seven months after Jan du Plessis took over as Chairman of BT Group plc.
BT Group will undertake a search for a successor.
“There is a need for a change of leadership to deliver this strategy”
Patterson’s departure from the CEO post is explained as follows. Jan du Plessis, Chairman of BT, said in a fairly blunt statement: “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.”
Jan du Plessis further said: “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. While BT is a very demanding business, with multiple stakeholders, we do have significant opportunities ahead of us. I am confident that, for the remainder of his term, Gavin and his senior management team will continue to display the energy required to deal with every dimension of the task at hand.”
Precise information about Patterson’s future plans was not immediately available.
BT Group said: “Gavin Patterson will be stepping down later in the year.”
Share price decline
The change follows a decline in the share price of BT Group plc since November 2015.
Chaired by Jan du Plessis
BT Group plc is chaired by Jan du Plessis.
Jan du Plessis was appointed to the Board on June 1, 2017 as a non-executive director and became Chairman from November 1, 2017.
In the position of CEO since 2013
Patterson was appointed to the Board in June 2008 as CEO, BT Consumer (BT Retail) and became Chief Executive in September 2013.
He is Chairman of the Executive and Technology Committees and a member of the Committee for Sustainable & Responsible Business.
Before joining BT, Patterson was managing director of the consumer division of Telewest (Virgin Media).
Prior to that he spent nine years at Procter & Gamble.
Patterson is a non-executive director of British Airways and a member of the CBI President’s Committee.
Push-out Score determined
The Push-out Score™ determined by exechange suggests that push-out forces have contributed to the change.
Read the full story in the exechange report 25.2018 ($).