Telstra CEO Andrew Penn steps down, succeeded by CFO Vicki Brady

Telstra CEO Andrew Penn steps down, succeeded by CFO Vicki Brady

Outgoing Telstra CEO Andrew Penn (left) and newly appointed CEO Vicki Brady (right).

Telecommunications giant Telstra (ASX: TLS) has today announced its current CFO Vicky Brady will be promoted to the role of CEO, replacing Andrew Penn who will retire after more than seven years in the top job.

Brady will officially take over as CEO on 1 September 2022, and will work with Penn over the coming months to ensure a smooth transition.

Telstra chairman John Mullen said Penn, who joined Telstra as CFO in 2012 and had been CEO since 2015, would leave an enduring legacy.

“Andy has led Telstra during a period of significant change and will be known for his courage in setting a bold ambition through the T22 strategy to deliver a transformed experience for customers, shareholders and employees,” Mullen said.

“There is no doubt the strategy has delivered beyond expectations and has laid the foundations for Telstra’s recently announced T25 strategy and a renewed focus on growth and innovation.

“During his time as CEO, Andy has driven a focus on digitisation underpinned by a commitment to simplifying our products and services for our customers and employees. He has also maintained our leadership in networks, including recently through our investment to lead on 5G.”

The chairman also welcomed the promotion of Brady, who joined Telstra in 2016 and has held the role of Group Executive, Consumer and Small Business in addition to her current role of CFO and Group Executive responsible for Strategy, which she was appointed to on 1 July 2019.

“Having started her career with KPMG, Vicki subsequently worked in a range of finance, commercial and strategy roles before moving into broader business leadership positions,” Mullen said.

“She has made a significant contribution to Telstra including her work in developing our new go to market plans as part of the T22 strategy. She has played a key leadership role in the development of Telstra’s T25 strategy and is well placed to lead the company through its next phase.

“She could not be more qualified to take over the reins to deliver on our T25 commitments.”

Brady will receive $2.39 million in fixed remuneration as CEO, with the potential to receive additional pay in the form of variable remuneration.

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