BT CEO responds to question on whether he should step down after ‘difficult’ year

by Dramelin 6:00 AM 0 comments

The chief executive officer of the biggest telecom firm in the U.
has told CNBC he wants to keep his position despite disappointing earnings and a shareholder call for him to resign.
"It has been a difficult year, no question about that, for the company and for me personally," Gavin Patterson told CNBC Thursday.
"But I`m absolutely determined to see through the strategy that we have set.
" "I am very confident in the support of the board and the new chairman … I`m sure I`ll get the chance to see (the strategy) through," he added.
BT reported revenues of £6 billion ($7.
96 billion) for its second quarter, a drop of around 2 percent from last year.
It also reported a 4 percent decline in profits on Thursday.
The company is struggling due to investments in sports rights and improvements to its customer service.
Higher costs for pensions are also a drag for the firm.