The telco has begun the search for a replacement and Patterson will remain in post until a successor has been found, most likely in the second half of 2018.
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 almost five years that he has served as Chief Executive.
“The Board is fully supportive of the strategy recently set out by Gavin and his team. 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.”
During his time at the helm, Patterson has overseen a number of changes in the business, not least its entrance into the TV market.
“It’s been an honour to lead BT since 2013, and serve as a member of the Board for the last 10 years. Throughout that time I’ve been immensely proud of what we’ve achieved, in particular the transformation of the business in recent years with the launch of BT Sport, the purchase and integration of EE, and the agreement to create greater independence for Openreach.
Patterson said the company was well placed for the future.