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Telstra CEO Sol Trujillo to leave June 30

Company transformation a big win for outgoing CEO.

Sol Trujillo

Sol Trujillo

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.

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1 Comment

xine

1

McGauchie Must Go Too

McGauchie says "I have every confidence that Telstra will continue to deliver world-leading results for shareholders."

Probably he means that no other telecoms company has dropped it's share price so much in such a short time.

Before McGauchie, Telstra/Telecom used to be a world leader. Since his chairmanship, the country users he was put in to satisfy have had diddly squat, and since he appointed Trujilo and his band of carpet baggers, we have had un-needed and non productive conflict with our regulators.

We all know what happened to American banks due to self regulation. If McGauchie thinks Telstra would behave differently he should go back to the Farmer's Federation and explain why Australia has such high prices, poor coverage and low Internet speeds compared with our trading countries.

I hope that our Government give the NBN to the fibre to the premises consortium, so that Telstra has to compete on the level playing field that McGauchie refuses to provide for Telstra's competitors. Maybe the shareholders will then realise that he is the problem for their share price and and our lousy National telecommunication performance.

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