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John Stanhope’s boots were always going to be hard to fill.
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But today, Telstra announced British man Andrew (Andy) Penn has been appointed as his replacement as Chief Financial Officer.
Penn, who most recently held a role as Group CEO at AXA Asia Pacific, will also be Telstra’s Group Managing Director, Finance, and is set to take the reins from 1 March 2012.
Mr Penn is an experienced chief executive and CFO with a career spanning more than thirty years, the telco said in a statement today.
Penn was born in the United Kingdom and migrated to Australia in 1992.
“I am delighted to welcome Andy to this critical position. Andy has extensive experience in Australia and overseas, a proven track record of success as a Chief Financial Officer, and a demonstrated ability to create shareholder value in complex businesses,” Telstra CEO, David Thodey said.
Mr Penn spent over twenty years at AXA in roles including CEO of the Australia and New Zealand, Chief Operations Officer, Head of Transformation and Asia boss.
Mr Penn will be a member of Telstra’s CEO leadership team, reporting to Mr Thodey and will be based in Melbourne.
“I am looking forward to joining the team at Telstra and I am very excited by this great opportunity in a dynamic industry,” Mr Penn said.
Thodey also paid tribute to retiring CFO veteran, John Stanhope, for his service spanning more than 40 years, including eight as finance Chief.
“On behalf of his colleagues, I would like to acknowledge John’s enormous contribution to our company over four decades, and wish him and his family the very best for the future,” Thodey said.
Telstra also announced that Mark Hall will be acting Chief Financial Officer and Group Managing Director, Finance, from 1 January to 29 February 2012. Mr Hall is currently Deputy CFO.
