Ex-News Corp CFO Stephen Rue tapped for NBN Co

Ex-News Corp CFO Stephen Rue tapped for NBN Co

Summary: NBN Co has appointed ex-News Corporation Australia chief financial officer Stephen Rue to replace outgoing CFO Robin Payne.


NBN Co CEO Bill Morrow has installed ex-News Corporation Australia chief financial officer Stephen Rue to the role of CFO, replacing Robin Payne.

(Image: NBN Co)

Payne was one of three executives that Morrow announced would leave the company when he started in April, while the other roles would not be replaced. Morrow said the company would look to replace Payne, who stayed on in the role while a replacement was found.

Rue is Chartered Accountant with a Bachelor of Business Studies and a Diploma in Professional Accounting, but has no experience in working in a telecommunications company like NBN Co. He has spent a decade as the CFO of News Corporation Australia between 2003 and 2013. He has also held a number of directorships with REA Group, Foxtel, AAP, and was the chairman of National Rugby League Team Melbourne Storm from 2010 until 2013.

Morrow said today that Rue had managed businesses through complex transformations.

"Stephen is a well-credentialed senior finance executive who has managed a business through a complex and high profile transformation. His transparent approach is welcome at a time NBN Co continues to accelerate on its delivery," Morrow said in a statement.

"Stephen is an enthusiastic and engaging executive and I look forward to working with him."

Rue will begin work at NBN Co from July 1.

Rue's appointment comes as last week ZDNet revealed that former Independent MP Rob Oakeshott claimed in his memoir that the Coalition's broadband policy had been designed with News Corporation in mind, and in particular, its stake in cable company Foxtel.

"As much as I have personal regard for [Communications Minister] Malcolm Turnbull, I think his telecommunications policy is wholly owned by Telstra and News Limited. It does nothing for consumers, and is a massive win for a couple of corporate boards."

The company today also announced that Shaw Communications Canada's chief technology officer Dennis Steiger will be starting at NBN Co from July 21 as the company's new chief technology and security officer. Steiger has spent 20 years working at Shaw Communications being responsible for building an engineering team for the company, and being responsible for its infrastructure.

NBN Co highlighted Steiger's extensive experience in working with different access technologies, as the company moves to the so-called multi-technology mix model for the National Broadband Network that encompasses fibre to the node, cable, wireless, satellite, and fibre to the premises.

Topics: NBN, Government, Government AU, Australia


Armed with a degree in Computer Science and a Masters in Journalism, Josh keeps a close eye on the telecommunications industry, the National Broadband Network, and all the goings on in government IT.

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  • Imported CTO, really?

    So Morrow has appointed a Canadian to arguably the highest profile and most complex CTO role in the country - no disrespect at all to the incoming gent but this appointment is absurd. What Morrow is saying is that there are no CTO's in the country up to the job. Was it even advertised? or was this a hand picked appointment. I simply do not understand how this is allowed to happen on two fronts - firstly why no-one local was appointed and secondly how the appointed CTO can even gain a visa (457?) for the role when there are so many qualified local candidates.
    • Even Worse

      He has appointed a News.Corp stooge as the CFO. Say bye bye to any further NBN financial support of any model that conflicts with Ruperts ideals.

      Australian Liberal voters, you have sold Australia.
    • NBN Co appointments

      Oh well - the best that could be said is that a Canadian accent will add diversity to the American, English and French accents that represented NBN Co at last week's Senate Estimates. Cringe. Australia's largest infrastructure project and we keep on paying imports?? And their relocation costs?? NBN Co did this first time round as well with a German and a New Zealander in the ranks and where are they now? And we don't just have talented men in Australia - we have talented WOMEN in Australia. It just keeps on getting worse and the vision of Australia as a world leader in the digital economy keeps slipping further and further behind.
  • Demolition Completed!

    Our NBN has now morphed into FTS (Foxtel Telstra Subsidy) instead.
    The News Limited Fox gets to take charge of the henhouse as Tony pays his dues to Rupert.
    • Yep

      I'm surprised this is all allowed to happen. The original NBN (FttP) would have given us speeds great enough to have real Foxtel/Telstra competition through IPTV and VoIP.

      Now Turnbulls NBN is basically going to be run by (ex) Telstra/Foxtel. We've been completely and utterly sold out.

      Telstra has been abusing it's wholesale network monopoly ever since it was privatized. Now we have given the power of NBN to people that have been in companies doing this for years.

      I have NO idea how the new NBN is supposed to benefit us now. Speeds will be as they are on ADSL2+ (maybe a little better but I doubt it), and it is going to be run by greedy ex-corporates who will have no interest in anything competing with their interests. They will control the NBN. I seriously doubt it will be truly open then to competition.

      You know what? I'd rather save the $40b right now and not even bother to build it anymore. Any people that thought Labor's FttP NBN was going to be a massive waste of money, congratulations on voting these knobs in, we are now absolutely pissing all our money up a wall.

      What a waste.
  • Qualifications

    His experience is in HFC Pay TV, NOT FTTH or even FTTN


    further indications of what to expect

    "Richard L
    Posted 04/06/2014 at 1:40 pm | Permalink | Reply

    From wiki:

    “In December 2010, Shaw filed complaints with the CRTC to have competing internet video services such as Netflix classified as broadcasters under Canadian law. In the same month, Shaw introduced usage based billing on internet plans and lowered plan caps an average of 25% while introducing overage fees of $1 to $2 per gigabyte. On February 8, 2011, Shaw agreed to put a hold on usage based billing for its services.”

    Sounds like just the man."

    The direction is clear.
    Extend the reach of a monopoly Pay TV network that will reap $Billions extra per annum rather than face competition reducing profits
    Abel Adamski
    • Reminder

      The ex News Ltd CFO was a Director at Foxtel, resigning that position after the nelection

      Ruperts rape and pillage Australia has been meticulously planned with his puppets in Government delivering the goods

      What will the gratuity be.? Corruption anyone
      Abel Adamski