British telecommunications company BT Group says its CEO, Gavin Patterson, will step down this year amid shareholder discontent about the lagging share price.
The former state telecoms monopoly said Mr Patterson would stay in the role until a successor is appointed, expected to be some time in the second half of the year.
The company has been dealing with the aftermath of an accounting scandal at its Italian division, which resulted in a £530 million write-down and a major fall in its share price previous year.
The changeover comes just a month after BT announced plans to axe around 13,000 jobs and exit its BT headquarters in central London as part of a revamped cost-cutting drive meant to help save around £1.5 billion.
"The broader reaction to our recent results announcement has, though, demonstrated to Gavin and me that there is a need for a change of leadership to deliver this strategy".
The BT board says it is convinced this is still the right direction to take, but it wants someone else to take charge.
Jan du Plessis, Chairman of BT said: "Gavin has been with BT for just over 14 years and I want to thank him for his contribution to our business during that time, in particular during the nearly five years that he has served as Chief Executive".
Patterson received a total of 2.3 million pounds ($3.1 million) in the year to the end of March, according to the company's annual report - basic pay of 997,000 pounds plus a 1.292 million pound bonus.
Investors in BT Group Plc watched their investments shrink about 60 percent and decided it was enough.
The bad news continued when Ofcom fined BT a record 42 million pounds for service failures.
The plan would save the former United Kingdom telecommunications monopoly an estimated £1.5 billion ($2 billion) over three years.
"I am confident that, for the remainder of his term, Gavin and his senior management team will continue to display the energy required to deal with every dimension of the task at hand", he said.
However, the company is also set to hire 6,000 new engineers and front line customer service staff to support its roll out of fibre and 5G networks.
Israel blasted the move as ignoring what it says is Hamas' role in the violence and said it won't co-operate with investigators. It was not immediately clear whether Tamimi died at the scene or after the soldiers took him away in an armoured vehicle.
A separate source, however, told ESPN FC that Liverpool were yet to approach Stoke with an offer for the 26-year-old. Xherdan Shaqiri is surely to go with his reported release clause triggered by relegation around €15m.
Fire TV Cube is the first hands-free streaming media player with Alexa, delivering an all-in-one entertainment experience. Amazon's Fire TV Cube , it combines Echo, streaming box, and universal remote into one device for easy access and usage.
Justify beat nine other horses to win - more competition than any Triple Crown victor has even beaten in the Belmont. Bob Baffert watches the Brooklyn Invitational, a race his horse Hoppertunity won at Belmont Park on Saturday.
The match was at its best in the first set but was rarely less compelling as Halep completely justified her number one ranking. Halep beat Stephens the last four times they played each other. "You guys are my biggest haters", she said on Saturday.
Google said Thursday that it would not let its artificial intelligence (A.I.) tools be used for deadly weapons or surveillance. And we will continue to thoughtfully evaluate when to make our technologies available on a non-commercial basis.
The winning numbers for the drawing were: 03, 06, 09, 17, and 56, while the Powerball was 25 and the Multiplier number was 3. Oh, my God.' It's like when you see a "Tom and Jerry" cartoon: "The heart goes boom boom boom boom".
Guatemala is also home to 16.3 million people with more than 9% of the population living below the worldwide poverty line. These funds will help "Guatemala Red Cross support 3,000 of the most vulnerable survivors for three months", they added.
Porsche is doubling down on electric cars, saying it will pour over €6 billion (about $7.1 million) into electromobility by 2022. Porsche has revealed the name of the production Mission E all-electric sedan , which will launch as the 2020 Porsche Taycan .
From the midfield, expect Esteban Ocon, Carlos Sainz, and Pierre Gasly to put in a strong performance and complete our quintet. To take part, visit Fantasy.formula1.com and simply search "GiveMeSport F1 League" in the public leagues to join in the fun.
As has been the case since Durant arrived for the 2017 season, the Warriors just had too much All Star talent to be stopped. We're going the celebrate this together. "We know how much hard work went into it and the sacrifice everybody brings".
In rare cases, Salmonella infection can cause death unless the person is treated promptly with antibiotics. Consumers who do not remember what store their pre-cut melon was purchased from should also discard it.
BlackBerry Key2 vs BlackBerry KEYone: What are the differences?
Overall, the Key2 does seem to be a decent upgrade over the KeyOne , even though the display size and resolution remain the same. There's a 12-megapixel main shooter with a secondary 12-megapixel camera that offers 2x optical zoom and enables portrait mode.
Belgium vs. Egypt - Football Match Report
Their first game will be against Uruguay on Friday June 15. "I promise to do my best for our people". Of course, someone can now say "ok, we've qualified, that's it".
PM's statement prior to his departure to Qingdao in China
China's Belt and Road Initiative was also strongly opposed by India as part of it goes through Pakistan-occupied Kashmir. President Xi Jinping accepted Prime Minister Narendra Modi's invitation to visit India for the next informal summit .