Telstra CEO Andrew Penn to Retire, Be Replaced by CFO Brady

By Stuart Condie

SYDNEY--Telstra Corp. Ltd. Chief Executive Andrew Penn will retire in August after more than seven years in charge of Australia's largest telecommunications provider, which will promote Chief Financial Officer Vicki Brady to replace him.

Telstra on Wednesday said that Ms. Brady will take over on Sept. 1 after transitioning into the role over the next few months. Ms. Brady led Telstra's consumer and small business operations before becoming CFO in 2019.

Mr. Penn led Telstra through the rollout of the government-owned National Broadband Network, which reduced incumbents' earnings from fixed-line services. He oversaw a company-wide restructure and the sale of a 49% stake in Telstra's mobile infrastructure.

Write to Stuart Condie at [e-mail]

(END) Dow Jones Newswires

03-29-22 1727ET