Telstra CFO to retire

Telstra CFO to retire

After 44 years with the telco, John Stanhope will be retiring at the end of the year

Telstra chief financial officer (CFO), John Stanhope, will be retiring at the end of the year after more than four decades of service.

He joined the company in 1967 and has held a number of positions including director of finance.

Stanhope became the CFO in 1995 and has been the driving force behind some of the biggest decisions for Telstra including privatisation and the definitive agreements with NBN Co, according to the telco.

He also contributed to cost reduction programs, growth strategies, debt raising, capital management and organisational restructures.

The veteran will oversee the shareholder vote on the $11 billion deal between NBN Co and Telstra in October before retiring. Stanhope's last day is on 30 December, 2011.

“I look forward to playing a significant role in the coming months as we seek shareholder approval for Telstra’s participation in the National Broadband Network [NBN],” Stanhope said in a statement.

Telstra CEO, David Thodey, said the company is in the process of reviewing candidates for key roles including CFO.

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Tags TelstraTelconbn coTelecommunicationsNational Broadband Network (NBN)John Stanhope

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