Mar 31, 2017
Patterson faces more challenging times at BT
At the start of the year, BT's boss Gavin Patterson cut a typically relaxed and confident figure moving through the power brokers at the World Economic Forum in Davos. Three corporate setbacks in as many months has left Mr Patterson facing the biggest challenge since he took over in 2013, when he was riding high on the success of the consumer arm that he had led since 2008 and armed with ambitious plans to expand further into pay-TV and mobile services. Shares in BT were trading at 317p on Friday, close to a four-year low and near where they were trading when Mr Patterson took over as chief executive from Ian Livingston, now at Dixons Carphone. Several senior people in BT say Mr Patterson, who has appeared sapped of energy by the events of the past six months, looks safe at least until the new chairman starts, with Mr du Plessis said to have ensured that Mr Patterson was committed for the long term before agreeing to join. An agreement was duly reached this month, in a deal seen by many analysts as favourable to BT and a boost for Mr Patterson after two years of brinkmanship.
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