David Thodey is the new Telstra (ASX:TLS) CEO, ending months of speculation after Sol Trujillo stepped down from the position.
Telstra chairman, Donald McGauchie, has also resigned and will be replaced by board director, Catherine Livingstone AO, effective immediately.
Originally the CEO of IBM’s A/NZ business, Thodey has been with Telstra for eight years heading up corporate, government and large business operations. In a statement, he committed to the reformation started by Trujillo four years ago.
"This company plays an important role in Australia, keeping millions of people reliably in touch across this vast country and across the world,” Thodey said in the statement.
"Our strategy remains unchanged: To continue to provide customers with world-class products and services. The key to Telstra continuing to win and to serve customers will be finishing our transformation that started nearly four years ago. Completing the transformation will enable us to deliver a superior customer experience and the financial outcomes that our shareholders expect."
McGauchie’s departure comes after five years as chairman and ends heavy media speculation on his future after the telco failed to submit a complete bid for the national broadband network (NBN) – potentially costing it $2 billion in revenues and sending its share price south.
"Telstra's strength and ongoing performance are the paramount priority,” McGauchie said in the statement. “It is my view that speculation on my tenure was a distraction to the business. Nothing should be allowed to get in the way of David and the management team getting on with the important job ahead of them.”
Telstra CFO, John Stanhope, has been appointed an executive director of the board, while board member, Peter Willcox, tendered his resignation over his concerns the James Hardie judgment may embarrass the company.
In March, Telstra (ASX: TLS) also announced national sales executive director, Nerida Caesar, would replace wholesale group managing director, Kate McKenzie.