back to article Major shareholder: BT CEO Gavin Patterson should step down

One of BT's top investors has reportedly called for the firm's chief exec Gavin Patterson to step down, following a number of issues to rock the biz this year including a £530m Italian accounting scandal. BT's share price plunged when the news emerged in January 2017 that the firm had uncovered years of "inappropriate …

  1. Mike Pellatt

    In a "Well, they would say that, wouldn't they ?" moment, shareholder in monopoly supplier calls for chief exec who can tell regulator where to go, sorry, whose major strength is in negotiating with its regulator.

    Meanwhile, The Rest Of The World finds that Ofcom caves in to easily in the face of BT.

    And, as ever, don't get me started on the taxpayer ripoff that is BDUK Phase 1.

  2. Anonymous Coward
    Anonymous Coward

    Is that you Rupert?

    Wouldn't surprise me if an "unnamed" shareholder was linked to the sly fox.

  3. Anonymous Coward
    Anonymous Coward

    Hand BT over to it's pension fund to cover the black hole, kills two birds with one stone. Tough luck greedy shareholders.

    1. Anonymous Coward
      Anonymous Coward

      "Hand BT over to it's pension fund to cover the black hole, kills two birds with one stone. "

      Some of us cannot forget that BT took an employer contributions holiday back when times were better.

      1. Anonymous Coward
        Anonymous Coward

        "Hand BT over to it's pension fund to cover the black hole, kills two birds with one stone. "

        How about instead they remove all the management's pensions and future golden handshakes and make up the short fall with that.

        Then just return openreach infrastructure to the state and we can forget the last 30+ years ever happened.

        As to the "top investor" can he prove he paid all his UK taxes? if he can't then tough, shares are just another form of gambling and sometimes it is the other people profitting from ignorance.

  4. nematoad
    Unhappy

    Maybe not.

    "What BT actually needed was a guy who could take on the regulator, not a retailer and marketer."

    Or perhaps, someone who could actually make the company obey the law.

    Or is actually obeying regulations one of the obstacles to doing "business as usual"?

    1. Roland6 Silver badge

      Re: Maybe not.

      The comment does make you wonder, just how the "Major shareholder" expects to make a return on their BT share holding - perhaps they want a block of uninteresting utility shares that without the input of a retail er and marketeer, can only go down in value - both in terms of dividends and share growth...

      Or do they think that by constantly fighting Ofcom, BT will win friends...

  5. John Smith 19 Gold badge
    Unhappy

    "and said it has not been contacted by the anonymous top 20 shareholder"

    But you can be pretty sure they know who was talking.

    Large companies tend to pay attention to the people who own large blocks of themselves.

  6. Dr Fidget

    Caveat emptor

    "The value of shares may go down as well as up"

    1. Will Godfrey Silver badge
      Meh

      Re: Caveat emptor

      The value of service may fall as well as go down.

  7. Anonymous Coward
    FAIL

    It'd just be nice if BT could actually do the 'T' bit.

  8. Dodgy Geezer Silver badge

    And look.....

    ...One of BT's top investors has reportedly called for the firm's chief exec Gavin Patterson to step down,...

    ...he just has.....

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