BT's (NYSE: BT) Ian Livingston resigned as the firm's CEO to become the British Minister for Trade and Investment. He will continue as CEO until September, at which time Gavin Patterson, currently the CEO of the firm's consumer division, BT Retail, will take the helm.
Livingston (Image source: BT)
Under Livingston's reign, BT has morphed into a broadband powerhouse by replacing its old copper lines with fiber. At the end of the fiscal fourth quarter, in May, the company noted that its fiber customer base doubled to more than 1.5 million subscribers. Overall the telco has passed more than 15 million premises with fiber, an increase of 6.2 million for the year. In addition, it doubled the number of actual connections to 873,000, bringing the total number of connected homes and businesses to 1.5 million.
Meanwhile, Patterson, who joined the company in 2004 and has served as CEO of BT Retail since 2008, is considered a strong replacement for Livingston because of his success in his current role. Prior to joining BT, Patterson spent four years at Telewest, which later merged with NTL to become Virgin Media. Prior to that, he worked for Procter & Gamble.
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