Telstra appoint two new directors.
Moves to reinvent Telstra after its failed bid to build the National Broadband Network have begun with the appointment of former Microsoft Australia boss Steve Vamos and gas industry expert Russell Higgins as non-executive directors.
At the same time as the new appointments, eight-year board member and chairman of Telstra's remuneration committee, Charles Macek, announced he would not stand for re-election at the company's annual general meeting in November, becoming the fourth Telstra director to leave this year.
Telstra Bigpond is currently the largest internet service provider in Australian offering a range of ADSL, ADSL2+, Naked DSL, Cable and Mobile Broadband plans.
Current Telstra chairman Catherine Livingstone said the new directors possessed the right experience required to continue the company’s current ambitions. Ms Livingstone said Mr Higgins’ experience in the energy sector was valuable as the sector faced similar challenges as are now facing the telecommunications industry.
The new appointments come at a critical time for Telstra, which has been left one director short after Peter Willcox was banned from holding any bard positions after being caught up in the James Hardy Scandal.
Telstra is also facing new challenges as the government continues to move ahead with its plans to build the $43 billion national broadband network which could potentially see tighter regulations on Telstra.
Last year the average remuneration for the Testra’s non-executive directors was $246,000 annually.