Jul 11, 2018
BT faces shareholder revolt over executive pay
BT shareholders have revolted against the company's executive pay plan, with a third opposing it at the company's annual meeting in Edinburgh. Gavin Patterson, outgoing chief executive, was handed a 2.5 per cent pay rise this year, taking his basic salary over the £1m mark. BT has suffered a sharp downturn in fortunes over the past 18 months as it has warned on profits, battled with the regulator Ofcom over the structure of the company and unveiled a deep restructuring plan to cut costs to invest in fibre. Jan du Plessis, BT chairman, said the company was "Naturally disappointed" by dissent at the vote, results of which were displayed at BT's sparsely attended annual meeting in Scotland, but called for patience. The AGM was Mr Patterson's last after 14 years with the company, five as chief executive.
Make a complaint about BT by viewing their customer service contacts.