22nd May 2016 19:18
LONDON (Alliance News) - BT Group PLC is to start the search for a new chairman to replace Mike Rake at the end of the year, the Financial Times reported.
Rake told the FT he will remain in his role "until at least September 2017", by which time he will have served a decade in the role.
The comments from Rake come after BT's annual report for its 2016 financial year showed independent board members had asked Rake to stay on given the "relatively new" chief executive at BT, Gavin Patterson.
Patterson took up the role in 2013 and has embarked on a series of significant moves for BT, including investing billions in purchasing live sports rights for BT's television service and more recently a GBP12.5 billion acquisition of mobile operator EE Ltd.
https://next.ft.com/content/09e7818a-200f-11e6-aa98-db1e01fabc0c
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
BT