By Adam Clark

BT Group PLC (BT.A.LN) said Tuesday that it will alter its approach to executive pay after some shareholders objected to the bonus paid to former Chief Executive Gavin Patterson.

The British telecommunications company faced a shareholder revolt in July when 34% of votes were cast against its remuneration report, following a 2.3 million pounds ($2.9 million) payout to Mr. Patterson for fiscal 2018. Mr. Patterson's exit had been announced in June, following criticism of his strategy for the company.

BT said it was disappointed by the vote and subsequently held discussions with shareholders and proxy advisors. As a result, its remuneration committee will implement a "more structured process" in the use of discretion around bonus payments, including taking into account a broader range of performance factors.

Write to Adam Clark at adam.clark@dowjones.com; @AdamDowJones

(END) Dow Jones Newswires

December 18, 2018 05:36 ET (10:36 GMT)

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