Telstra refines business strategy with eye on Asian growth
Telstra today announced changes to its long-term strategy for growing Australian and overseas business.
Telstra CEO David Thodey says the realignment reflects the need to maintain the company’s core Australian business while also exploring emerging domestic and international opportunities.
Growing Telstra’s presence in Asia has been highlighted as a core goal.
The telecommunications company outlined three key focus areas: customer service excellence, core revenue and growth.
“Our strategy is simpler and more impactful,” Thodey said at an investor day in Sydney. “It makes our ambitions clearer and shows where shareholders can expect us to continue building value.”
The changes have also resulted in a number of new portfolio appointments.
Brendon Riley has been appointed as group executive of global enterprise and services, Kate McKenzie will take up the post of chief operations officer and Gordon Ballantyne becomes group executive of retail.
“These changes make sense because they reflect out business needs and the exciting and rapidly moving environment around us,” Thodey says.
“Structure follows strategy so we have asked some of our most senior leaders to take on new or expanded opportunities to ensure we deliver on these promises. Each executive has considerable experience inside the industry as well as other industry sectors or global markets.”
Telstra assured shareholders that the 2012 capital management framework, which provides greater transparency for shareholders, will not be altered by today’s changes.