BT Chief Executive Gavin Patterson to Step Down

Patterson's tenure has been mixed, Morningstar equity analysts argue, and the company's shares remain significantly undervalued

Allan C. Nichols 8 June, 2018 | 5:05PM
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BT Chief Executive Gavin Patterson

BT announced today that CEO Gavin Patterson will step down later this year and a search is on for his successor. This change has no impact on Morningstar equity analysts’ 360p share fair value estimate, or narrow moat rating.

We continue to believe the stock is significantly undervalued. At just over 200p, the company's shares rose after today's announcement. While we have not advocated for Patterson’s replacement, we aren’t sad to see him leave. In our opinion, Patterson’s tenure has been mixed.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
BT Group PLC136.70 GBX-0.62Rating

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Allan C. Nichols  Allan C. Nichols