Telstra chief to return to USA

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Chief executive of Australian incumbent network Telstra is to leave the company on June 30 to return to his native USA.

The company will begin a search for a suitable successor and expects to make an appointment by the time of Trujillo’s departure.

Telstra chairman Donald McGauchie said Trujillo and the Telstra board agreed that now was a suitable time for a transition to a new chief executive in light of the company’s performance.

McGauchie said: “Sol’s vision, strategic direction and commitment to execution have positioned Telstra as a media communications company with a wide range of options for ongoing growth.

“Under Sol’s leadership, Telstra has significantly outperformed the market and its global peers, producing world-leading results within the telecommunications sector.

“The Next G network is undeniably the world’s best national mobile broadband network and stands as Sol’s crowning achievement.”

Trujillo joined Telstra in July 2005. He will continue to drive the business until his departure at the end of June and work with the board and senior management to ensure a smooth transition.

He 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.”

Trujillo’s achievements include the integrated Next G and Next IP networks, the successful completion of Telstra’s privatisation, 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 with successful new acquisitions.

The announcement of Trujillo’s departure comes as the company announced strong first half results with free cash flow growing by 44 per cent to $1.9 billion (£865 million) while also continuing to outperform domestic and global peers in key products and segments. Total revenue grew 2.7 per cent to $12,710 million.

 

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