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British Telecom reduces former CEO's bonus

Former British Telecom CEO Gavin Patterson agreed to receive only around half his approximately £1.3 million annual bonus, after shareholders raised questions about the amount, Reuters reported.

Patterson's bonus will be reduced to about £572,000, which the company says is "in the best interests of all stakeholders," the report said.

The news comes after the company planned to overhaul its management pay structure in December 2018.

Patterson, who has served as BT's CEO until Jan. 31, was replaced by Philip Jansen.