Incumbent Telecom New Zealand has said that its CEO Paul Reynolds will remain with the company until the company is split into a retail business and an infrastructure business.
“It is expected that the board of New Telecom will begin a search process…
Incumbent Telecom New Zealand has said that its CEO Paul Reynolds will remain with the company until the company is split into a retail business and an infrastructure business.
“It is expected that the board of New Telecom will begin a search process during 2012 to identify Paul Reynolds’ replacement, who will lead the company during financial year 2012/2013 and beyond.”
In late May, Telecom NZ said it would carry out structural separation, after officially winning the bid to build the country’s US$2.8bn ultra-fast broadband project (UFB).
Since retailers are only able to take a minority stake in the UFB, Telecom NZ has agreed to separate into an infrastructure operator and a retailing company.
This announcement comes a day after the New Zealand government approved the demerger, expected to take place later this year.
