Vodafone Hutchison Australia (VHA)’s CFO has announced he will leave at the end of the year, amidst a swathe of job cuts and poor returns at the ailing telco. David Boorman has been CFO at VHA since the joint venture between Vodafone and Hutchison…
Vodafone Hutchison Australia (VHA)’s CFO has announced he will leave at the end of the year, amidst a swathe of job cuts and poor returns at the ailing telco.
David Boorman has been CFO at VHA since the joint venture between Vodafone and Hutchison Telecom in 2009 and CFO of Vodafone Australia since 2005. He will be replaced by Vodafone New Zealand’s CFO James Marsh, according to media reports.
Two other senior executives are also reported to be leaving VHA. A new chief technology officer and a new director of strategy have been appointed.
The company plans to cut around 500 jobs over the next month, equalling around 10% of its workforce, as well as slashing operating costs in an attempt to turn around its financial performance.
TelecomFinance reported in March that the company has been struggling with financial difficulties this year, mainly linked to network quality problems.
