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British Telecom CEO to step down

British Telecom CEO Gavin Patterson will step down later this year.

The company's board, which has begun the search for Patterson's replacement, anticipates to have a successor in place during the second half.

Patterson will continue to serve as BT's CEO until a successor has been named.

BT Chairman Jan du Plessis said while the board is "fully supportive" of the plans laid out by Patterson, "there is a need for a change of leadership to deliver this strategy."

The news came after it was reported that some BT investors began questioning Patterson's leadership following setbacks in recent years.