Telecom New Zealand has named Andrew Carroll as the provisional new CFO of New Chorus, the telecoms infrastructure company that will be spun off if Telecom NZ demerges as planned.
Carroll will take up the CFO role if shareholders and bondholders…
Telecom New Zealand has named Andrew Carroll as the provisional new CFO of New Chorus, the telecoms infrastructure company that will be spun off if Telecom NZ demerges as planned.
Carroll will take up the CFO role if shareholders and bondholders accept the demerger of Telecom NZ next month.
The news was announced in a statement by Chorus, which is currently an infrastructure subsidiary of Telecom NZ.
In May, Telecom NZ said it would carry out a structural separation, which would see it divide its retail and infrastructure units, with the latter becoming “New Chorus”.
The structural separation was a condition of Telecom New Zealand’s winning bid to build the country’s Ultra-Fast Broadband (UFB) project.
Carroll has been working at Telecom NZ since 2002, holding the roles of Manager Financial Strategy and Head of Mergers & Acquisitions. He had previously worked as the head of investment banking at Credit Suisse First Boston NZ.
Mark Ratcliffe, the man set to be CEO of Chorus, said that Carroll had been financial lead in the UFB negotiations and “played a vital role in making sure that the agreement and the financial terms would be in the best interests of our company and shareholders”.
