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Pressure mounts for BT CEO departure

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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. ®

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