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Telecom CEO Moutter settles into top job today

BUSINESSDESK: Telecom's new chief executive Simon Moutter officially settles into the top job today, giving him almost two working weeks to get up to speed before the annual result.

He will also sit on Telecom's board and on subsidiary TCNZ Finance, the Auckland-based company says. 

Mr Moutter kicks off his tenure ahead of next week’s results announcement, where the phone company will mark its first annual earnings without network unit Chorus, which was spun off as a separately listed entity last November in a bid to grab the lion's share of the government-sponsored nationwide fibre build.

Forsyth Barr analyst Guy Hallwright forecasts Telecom will post a 37% increase in earnings to $330.2 million as sales fall 7.4% to $4.68 billion.

Mr Moutter comes in after Scotsman Paul Reynolds' five-year tenure at the top, where he advanced the operational split between Telecom and Chorus that led to last year's divestment.

One of Mr Moutter’s first tasks will be to find a new head of retail, with Alan Gourdie exiting at the end of October.

The shares climbed 1.1% to $2.695 in trading on Friday, and have gained 29% this year. The stock is rated an average "hold" based on 11 analyst recommendations compiled by Reuters, with a median target price of $2.33.

Comments and questions
6

Wot a dream situation.....your two predecessors were unquestionably the two most overpaid and incompetent people ever to occupy a senior post anywhere on the planet....and we'll probably find later....in the universe.
Go for it Simon.....it's impossible to be worse or fail

B S Bertie - I think with a tiny bit of research you'll find your comment is nowhere near the truth...

No guesses for what the B S stands for...

Beautifully Said?

Look at B S Berties previous posts. He is against Telecom and other large NZ organisations. He never has a good word to say about Telecom or the people that work or have worked there.

I wonder why he should have such an unreasonable and ungrateful attitude.

Maybe he has had enough after many years of being fleeced and "confused" by this complacent and incompetent bunch of blowhards who are now to be led by Mr Moutter the master of maximising monopoly profits.

NB I am referring to the management team, not the staff most of whom do a pretty good job despite the best efforts of the imbeciles above them.