Telstra’s Application Ventures Group (AVG) managing director, Deena Shiff, will step down from the telco to focus on a non-executive career and directorships.
Telstra innovation products and marketing group managing director, Kate McKenzie and CFO, Andy Penn, will take on responsibilities for AVG activities.
Shiff will continue to support Telstra’s AVG investments as an adviser or director on the boards of its investment companies.
AVG Australia managing director, Matthew Koertge, and AVG US managing director, Mark Sherman, will together lead the AVG team and join the board.
Shiff joined Telstra in 2005 as group managing director of its wholesale business, and established and led Telstra Business from 2006 to 2011.
She established AVG in 2011 as a corporate venture capital arm, which has made key investments in Ooyala, Dimmi, Mandoe, IPscape and Whispir.