Telstra announced CEO Andrew Penn will retire after seven years at the helm of Australia’s largest mobile player by revenue and subscribers, with CFO Vicki Brady (pictured) to take over the role on 1 September.
Brady joined Telstra in 2016 as group executive for Consumer and Small Business and takes over as the operator shifts from its T22 transformation initiative introduced four years ago to the next phase of its turnaround programme, which involves additional cost and staff cuts.
In a statement, chairman John Mullen explained Brady developed Telstra’s go to market plans as part of the T22 strategy. “She played a key leadership role in the development of Telstra’s T25 strategy and is well placed to lead the company through its next phase.”
Mullen noted Penn would leave “a positive and enduring legacy” for the transformation he led during a period of significant change and will be known for “his courage in setting a bold ambition through the T22 strategy”.