After leading telecommunications giant Telstra as the CEO for a little over seven years, Andrew Penn will be stepping down from his role. Taking over the reins from Penn is CFO Vicki Brady, who will assume her responsibilities as Telstra’s next CEO on September 1, 2022.
Brady joined Telstra in 2016 and has held the role of Group Executive, Consumer and Small Business, in addition to her current role of CFO and Group Executive responsible for Strategy, which she was appointed to in July 2019.
Reportedly, Brady will receive $2.39 Mn in fixed remuneration as CEO, with the potential to receive additional pay in the form of variable remuneration.
Welcoming her as Telstra’s next CEO, Telstra chairman John Mullen said, “Having started her career with KPMG, Vicki subsequently worked in a range of finance, commercial and strategy roles before moving into broader business leadership positions. She has made a significant contribution to Telstra including her work in developing our new go to market plans as part of the T22 strategy.”
“She has played a key leadership role in the development of Telstra’s T25 strategy and is well placed to lead the company through its next phase. She could not be more qualified to take over the reins to deliver on our T25 commitments,” Mullen added.
Brady will work with Penn over the coming months to ensure a smooth transition.
Speaking of Penn’s “enduring legacy”, Mullen said that Penn has led Telstra during a period of significant change and will be known for his courage in setting a bold ambition through the T22 strategy to deliver a transformed experience for customers, shareholders and employees.
“There is no doubt the strategy has delivered beyond expectations and has laid the foundations for Telstra’s recently announced T25 strategy and a renewed focus on growth and innovation.
“During his time as CEO, Andy has driven a focus on digitisation underpinned by a commitment to simplifying our products and services for our customers and employees. He has also maintained our leadership in networks, including recently through our investment to lead on 5G,” Mullen said.
It will be interesting to see how Brady carries forward the legacy as she leads the next phase of Telstra's ambitious growth plans.