BT Appoints New CEO

Gavin Patterson, the current chief of BT Retail, is to become the new CEO of BT Group plc in September following the resignation of Ian Livingston, who is leaving in September to become the U.K. government's Minister of State for Trade and Investment.

This isn't the first time Patterson, who has been at the British incumbent operator for more than eight years, has succeeded his current boss: He took over from Livingston as head of BT Retail when the Scot stepped up to take over from Ben Verwaayen as CEO in 2008. (See Verwaayen Set to Leave BT.)

Patterson, who will take over at a yet undetermined date in September, takes the helm just as BT tries to position itself as a major sports content provider, a strategy that looks set to prompt "own goal" headlines in the coming years, and also as it throws itself back into the mobile market. (See BT's Got Balls, Euronews: BT's Back in Wireless and Euronews: BT Hints at 4G Push.)

BT's share price lost 2 percent of its value in the first 20 minutes following the announcement, dipping to 313.5 pence on the London Stock Exchange shortly after midday.

— Ray Le Maistre, Editor-in-Chief, Light Reading

Ray Le Maistre 6/19/2013 | 12:27:07 PM
re: BT Appoints New CEO Well, Livingston is not changing jobs for the money.... he pocketed -ú8.5 million ($13.3 million) in 2012 (including stock) and he will get a fraction of that as a politician. But then, I guess he doesn't need any more money, right? So....

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