A "sudden power shift at BT has triggered the exit of a key architect of its multibillion-pound football spending spree and cast new uncertainty over its bidding in a forthcoming auction of Premier League rights," according to Christopher Williams of the London TELEGRAPH. In the days before BT announced the exit of former Consumer Division CEO John Petter last month, he was reportedly in "detailed discussions about taking on responsibility for the company's overall strategy and restructuring effort." The telecom was "close to announcing the promotion alongside first-quarter results at the end of July." Sources said that Petter, who told the company he did not want to remain in charge of its consumer business, instead "abruptly decided to leave BT." It is understood the 47-year-old has agreed to a redundancy package equivalent to more than a year's pay. Petter's departure "was a blow" to BT CEO Gavin Patterson, who "remains under pressure after a series of costly failures including the Italian accounting scandal that triggered the biggest ever plunge in BT's shares" in January. Patterson "fought to retain his ally amid mounting debate within the company over the sustainability of its football spending" (TELEGRAPH, 8/5).
