Telstra announced today the company's much-publicised CEO Sol Trujillo will leave the company on June 30, 2009 and return to the US.
Chairman Donald McGauchie said Trujillo and the Telstra board agreed that now was a suitable time for a transition to a new CEO given the company's transformation is “well advanced and on track”.
Telstra will now commence a search for a replacement with a new CEO expected to start on or around June 30.
McGauchie congratulated Trujillo on his achievements during his four-year tender.
"Under Sol's leadership, Telstra has significantly outperformed the market and its global peers, producing world-leading results within the telecommunications sector,” he said, adding the Next G mobile network is Trujillo's “crowning achievement”.
Trujillo said he would continue to drive the business until his departure and work with the board to prepare a smooth transition.
“The results we have achieved together over the past four years make me incredibly proud," Trujillo said.
"Telstra is outperforming domestic and global peers in virtually every category. We are well positioned to hit the key transformation targets we set in November 2005 and I have every confidence that Telstra will continue to deliver world-leading results for shareholders."
McGauchie said Trujillo's most significant achievements include the integrated Next G and Next IP networks; playing a “critical” role in the completion of Telstra's privatisation; driving innovation across the company; migration of seven million customers to Telstra's new IT platforms; the rollout of ADSL2+ to exchanges covering 82 per cent of the population; the launch and rollout of the T[life] stores; and expansion into mainland China by way of new acquisitions.
"We look forward to Sol continuing to drive the business between now and June 30 and I have no doubt that his leadership of Telstra over the past four years will long be considered a pivotal and critical period in Telstra's history," McGauchie said.