Topic: Telcos

Finished up: Trujillo's already gone

Summary: Telstra announced today that newly appointed CEO David Thodey had already taken up the mantle of CEO after the outgoing head Sol Trujillo left before his scheduled June departure date.

By Suzanne Tindal | May 18, 2009 -- 23:39 GMT (16:39 PDT)

Follow @engochick

Telstra announced today that newly appointed CEO David Thodey had already taken up the mantle of CEO after the outgoing head Sol Trujillo left before his scheduled June departure date.

Trujillo had gone back to the States, according to Telstra, despite the company saying that he would be staying on until 30 June when it announced his resignation. According to the telco, the appointment of an internal candidate for CEO had meant "a smooth and swift" transition was possible.

Newly appointed group managing director of Telstra Wholesale, Nerida Caesar will take over Thodey's previous role heading up Telstra's enterprise and government division. She will take leave before beginning in that role on 9 June.

Glenn Osborne, previously executive director Telstra Wholesale Sales has been appointed acting group managing director Telstra Wholesale.

Thodey's contract will be posted on the Australian Stock Exchange when it is finalised.

Topics: Telcos, Telstra, IT Employment

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17 comments

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It's good for some!

So does his pay get docked for the early departure? would save the company a few million I would think?

anonymous
19 May, 2009 00:30

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He didn't say goodbye?

Never mind the pay packet - has he paid all his tax?

anonymous
19 May, 2009 00:36

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Has he paid his tax

As he has left before the 4 year term is up his renumeration is not subject to Australian tax laws. If he stayed he would have had to pay.

Why do you think he and all his Yankee cronnies have all gone

anonymous
19 May, 2009 00:53

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Good riddance

Why wouldn't he piss off - the wise people who appointed him had already handed over his $100 million.

It seemed like he was never here, anyway, in more ways than one.

gfrend
19 May, 2009 02:26

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Better than you think!

From News.com 'That's because Telstra is obliged to pay him an additional $3 million severance if he leaves before he completed his notice period. '

If that doesn't baffle your brains I am not sure if anything will. If I was to give notice and leave early, they would probably try to not pay me, not give me a bonus!

It must be heartbreaking being a shareholder and reading this with your morning coffee - I would be sick to the stomach to own Telstra Shares.

anonymous
19 May, 2009 23:58

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re Has he paid his tax

That's rubbish...of course he'll be taxed.

anonymous
20 May, 2009 02:32

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re Better than you think!

Just ask yourself the following two questions:

1. What happens if you pay him and he leaves early ?

2. What happens if you pay him and he stays ?

If you cannot work out the answers, then it is no wonder you would be "sick to the stomach to own Telstra shares, as you obviously have neither guts, nor vision !

anonymous
20 May, 2009 10:12

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thanks for the input MBJ

Right. If you say so!

anonymous
20 May, 2009 20:37

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re better than you think

telstra shares are $3.21, so did t2 investors who paid $7.40 have guts or vision, mbj?

anonymous
20 May, 2009 22:16

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re re Better than you think

Being a former Telstra employee, I can see how easy it is to fall for the Telstra propganda. I was presented with a slide that showed the 'One pipe theory' where all services would be delivered via one line - TV, Internet, Voip whatever. I thought it was great, and I thought Sol would transform the company into something incredible for Australians.

Unfortunatly it never happened.

MBJ, your obvious 'Sol can do no wrong' attitude is old, tiresome and just plain queer.

anonymous
21 May, 2009 01:13

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re better than you think

Unfortunately, those that paid $ 7.40 had neither. They were conned into believing what the Government told them, would be a good investment. But there are plenty of Telstra shareholders, me included, who have never paid anything like that price.

anonymous
21 May, 2009 01:54

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re re Better than you think

If you read into what I said i.e. " What happens if you pay him, and he stays", you should realise that I certainly do not have a "Sol can do no wrong attitude". It meant quite clearly, pay him off and let him go, as soon as possible. Under his contract, he has to get what is due anyway, whether you believe he deserves it or not. And so with so much anti-Sol sentiment and total disrespect around, who's going to listen to him anyway, if he wants to delay his departure, now that Thodey has taken over his position. Surely that makes sense, or am I wrong.

anonymous
21 May, 2009 02:05

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re Good riddance

How do you come up with his $ 100 million ? And we certainly found out that he was here anyway, in more ways than one.

anonymous
21 May, 2009 02:11

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who'd trust a politician?

that's where the disclaimer, which is part of every prospectus comes into it. it reads something like, before proceeding please seek independent financial advice.
i feel for those who bought any telstra shares as a long term investment, because they are now below the t1, t2 and t3 prices.
since when has anybody even trusted the word of a politician? but to trust them by gambling $1000s of your own dollars, is pretty silly?

anonymous
21 May, 2009 02:24

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re better than you think

OK - so you want Sol to go early, at the cost of 3 million dollars and you have no problem with that. At the same time you think he warrants respect.

You think the Govt conned people into buying T shares as a good investment - but you go ahead and buy them?!?

Oh Gawd.

anonymous
21 May, 2009 02:27

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re who'd trust a politician?

To trust a politician "point blank" is totally stupid. and yet we fall for it year in, year out ! I bought Telstra on what I thought was good advice from the Howard Government, but I don't feel too happy about it now. However I will hang on to them, and just keep hoping.

anonymous
22 May, 2009 10:37

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re better than you think

You have got that wrong, because I never said that Sol warrants respect. What I did say was:-

"And so with so much anti-Sol sentiment and total disrespect around, who's going to listen to him anyway, if he wants to delay his departure, now that David Thodey has taken over his position as CEO."

In other words, let him go as soon as possible now that he has been replaced, and let the new CEO get on with his job. Nobody respects his opinion anyway, and his contract has to be paid out regardless. Surely that makes sense.

anonymous
24 May, 2009 01:58

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