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.”