Telstra shareholders could enjoy the best returns in a decade under new CEO Vicki Brady, thanks to the hard yards done by Andy Penn.
For the first time in many years,. It is increasing market share in mobiles, and it is likely it will soon have an entirely different video content offering, which will help it achieve better engagement with broadband consumers.
There was a gruelling four-year period leading up to June 2021 when Penn would turn up for work at the start of each financial year knowing Thodey’s NBN deal would rip about $800 million out of his earnings. “A transformation that – on a global scale – has attracted attention for its size, scope and pace. And as many of you know – transformations are often full of big claims at launch but often fail to deliver most of their stated objectives. That is not the case here, fortunately.
However, Singtel made up for this missed chance to employ its first local female CEO with the appointment of the dynamic former banker Kelly Bayer Rosmarin as Optus CEO in April 2020. But Penn says now is the right time for him to leave. He will be 60 next year, and he wants to pursue some of the areas he is passionate about, including lifting Australia’s technology and innovation performance, boosting the country’s cybersecurity defences, and getting more women in senior executive roles in top companies.
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