Telstra Appoint New CEO – Where does it leave Telco Business?

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A $500M cost cutting strategy

Telstra’s new CEO Vicky Brady faces significant challenges, but has done well to win over investors in the short term. Andy Penn will step down in September after 7 years in the role, making way for Vicky who currently serves as the Chief Financial Officer of Telstra. She will be tasked with overseeing a $500M cost cutting strategy dubbed T25 over the next 3 years. While investors are confident, the cuts aren’t a good sign for customer service, networks and technology, which will likely take a hit.

“Can Telstra be a growth company? Yes, that’s absolutely our ambition, beyond 2025 there are really extraordinary growth ambitions and various ways that we can innovate.”

Vicky Brady – CEO of Telstra

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Read the Sydney Morning Herald news here.