Powered by

BT Group boss Gavin Patterson to sacrifice bonus after scandal

May 11, 2017 - City A.M.

BT GROUP boss Gavin Patterson will forfeit his bonus this year because of the accounting scandal at the telecoms company's Italian operations, according to reports.

The group's pay committee decided to veto the payouts to Patterson and former finance director Tony Chanmugam, Sky News reported yesterday, citing unnamed sources.

Patterson, who has been chief executive since September 2013, himself asked BT's chair, Sir Mike Rake, to suspend his bonus, according to Sky News' sources.

Patterson's maximum possible bonus was 240 per cent of salary, which was £996,825 this financial year, according to BT's last annual rep...