Bring me the Head of Sir Peter Bonfield

Pressure mounts for BT CEO departure

BT has declined to comment on reports that CEO, Sir Peter Bonfield, is about to resign.

Shares closed up 22.5p (4.5 per cent) to 522.50 p on the day's trading amid rumours that Sir Peter will step down.

Financial newswire, AFX says that City dealers anticipated the move following a board meeting at the company today.

Asked whether Sir Peter's departure was imminent, a spokesman for BT said: "No comment."

Earlier today BT called off a dinner with key shareholders over concerns that they would demand the resignation of senior management.

Investors are unhappy at the company's £30 billion debt burden and its seeming inability to do anything about it. ®

Related Stories

BT bottles crisis talks
BT board in 'debt crisis talks'

Sponsored: How to determine if cloud backup is right for your servers