Sharechat Logo

Telstra's Trujillo, political antagonist, to step down

Thursday 26th February 2009

Text too small?
Sol Trujillo, chief executive of Australia's biggest phone company, Telstra Corp., will step down after a three-year term that frequently pitted him against political shareholders in Canberra.

The announcement came as the company posted first half profit of A$1.92 billion, little changed from the year-earlier A$1.93 billion. Sales rose 3% to A$12.7 billion, Telstra said in a statement today.

Trujillo, 57, first locked horns with former Prime Minister John Howard's administration and has since clashed with PM Kevin Rudd over regulation of Australia's telecommunications industry. In December, Telstra missed out on a role in building the nation's new high-speed internet network to Singapore Telecommunications.

Telstra's earnings fell as its fixed-line services lost customers to mobile, a trend repeated around the world. The shares fell 0.6% to A$4.70 and are down 14% in the past 12 months.

By Jonathan Underhill



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

SML - Synlait Milk Limited - Trading Halt of Securities
AIA - Auckland Airport announces board chair changes
AIA - Auckland Airport announces board chair changes
CEN - Tauhara commissioning progress update
FPH initiates voluntary limited recall
March 28th Morning Report
KFL Celebrates 20 Years of Excellence in Investment Mgmt.
SVR - Savor FY24 Earnings Guidance & Change in Banking Partner
NZK - NZ King Salmon Investments Limited FY24 Results
March 27th Morning Report