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#89332 31-Aug-2011 08:54
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Just received:


PAUL REYNOLDS TO LEAD TELECOM THROUGH DEMERGER, THE ESTABLISHMENT OF NEW TELECOM AND TRANSITION TO A NEW CEO IN FY 2012/13
31 August 2011

Telecom has confirmed today that its chief executive officer, Dr Paul Reynolds, has committed to lead Telecom through the process of demerging Chorus and the successful establishment of New Telecom as an independent company. This announcement is being made now in order to make intentions clear as regards leadership tenure for the forthcoming period of stakeholder briefings, which lead up to the shareholder vote on the proposed demerger of Chorus.

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 2012/13 and beyond.

Telecom chairman, Wayne Boyd, said: "I have already indicated my intention to step down as chairman, assuming shareholder agreement to the demerger of Chorus, which is scheduled by the end of 2011.

"I am particularly delighted Paul has agreed to stay on and provide continuity of leadership while the New Telecom business is established under a new chairman and, ultimately, a new CEO. Until then, Paul is fully committed and mandated to lead Telecom towards the completion of the demerger and New Telecom in its establishment as a separate business, building on the momentum we already have in our key markets," said Mr Boyd.

Paul Reynolds said: "I am excited by the challenge of completing the establishment of a new industry structure that is unprecedented in the telecommunications world, and leading Telecom into this new and important era.

"As that process draws to an end during 2012 it will bring to a natural conclusion the transformation programme the Board hired me to lead and, after five years in the role, it will be a good time to hand over to a new CEO.

"Meantime, I'm determined to ensure that New Zealand, Telecom's customers, our people and our shareholders benefit from the demerger and UFB.

"I've had no time yet to develop my plans for the next phase but I certainly aim to retain strong ties with New Zealand," said Dr Reynolds.

 
 




 

 

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#514229 31-Aug-2011 09:19
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I'm available... not been asked yet, but I'm just saying... Laughing



BDFL - Memuneh
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  #514231 31-Aug-2011 09:21
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My bet is Chris Quin, Gen-i CEO...





 

 

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  #514233 31-Aug-2011 09:22
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Steve Biddle

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  #514234 31-Aug-2011 09:24
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johnr: Steve Biddle


You mean this guy?

http://www.geekzone.co.nz/sbiddle/2808 

Gets my vote :) 

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  #514243 31-Aug-2011 09:39
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johnr: Steve Biddle


+1  Steve rox...  :)

But how about you Johnr?  :) 





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  #514245 31-Aug-2011 09:40
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Interesting the different spins

Press Release "PAUL REYNOLDS TO LEAD TELECOM THROUGH DEMERGER"

Herald "Telecom's Reynolds to quit"

Stuff "Paul Reynolds to quit Telecom"



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  #514247 31-Aug-2011 09:44
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Well, duh... He wouldn't stay there forever.




 

 

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  #514255 31-Aug-2011 09:54
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Bung: Interesting the different spins

Press Release "PAUL REYNOLDS TO LEAD TELECOM THROUGH DEMERGER"

Herald "Telecom's Reynolds to quit"

Stuff "Paul Reynolds to quit Telecom"


ha, that is the difference between fact based reporting and tabloid journalism!

As he proposed to demerge Telecom the least he can do is follow through and make sure it completed properly.

Chris would also get my vote as new CEO.

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  #514258 31-Aug-2011 09:56
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Will be interesting to see if they go internally, externally NZ, or externally overseas.

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  #514270 31-Aug-2011 10:13
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NonprayingMantis: Will be interesting to see if they go internally, externally NZ, or externally overseas.

... if they follow the Reynolds model, they'll go fishing.... 

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  #514272 31-Aug-2011 10:15
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oxnsox:
NonprayingMantis: Will be interesting to see if they go internally, externally NZ, or externally overseas.

... if they follow the Reynolds model, they'll go fishing.... 


it's all to easy... bit like shooting fish in a barrel.





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  #514278 31-Aug-2011 10:19
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As he proposed to demerge Telecom the least he can do is follow through and make sure it completed properly.



And it looks good on his CV, rather than just having falling share price, profits and market share as achievements.

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  #514411 31-Aug-2011 12:32
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Personally I think he's done a pretty good job on:

- Improving Telecom's overall image (Telecom rage/hate was much higher under Gatting).
- UFB negotiations.
- Facing up to the public during the XT issues.

Profit was actually up 1.6% if you take out the cost of the earthquake and preparing for chorus de-merger, and in the middle of the worst recession since the great depression.

Haters gonna hate!

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  #514425 31-Aug-2011 12:44
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Ragnor: Personally I think he's done a pretty good job on:

- Improving Telecom's overall image (Telecom rage/hate was much higher under Gatting).
- UFB negotiations.
- Facing up to the public during the XT issues.

Profit was actually up 1.6% if you take out the cost of the earthquake and preparing for separation, in a worst recession since the great depression.

Haters gonna hate! 


I don't know if he did a good job.  I also don't know if anyone could have done a better job.

The fact is, by my observation, that the share price was over valued and I'd agree that the whole Telecom team has done a good job of bringing it back to reality in a reasonable way.  Other providers around the world just dropped value, were written off and sold off.  The Telecom team have done a reasonable job of not being one of those by my observation.

It was a business that started out with 100% market share, which really only ever gave it one direction to head.

Their ability to get NGN delivered seems impressive to me.  Looking at what's happening in .au, those guys are going to be left behind, it's taking so long to get faster 1's and 0's.







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  #514460 31-Aug-2011 13:34
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Ragnor: Personally I think he's done a pretty good job on:

- Improving Telecom's overall image (Telecom rage/hate was much higher under Gatting).
- UFB negotiations.
- Facing up to the public during the XT issues.

 
+ 1
 

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