Willcox leaves Telstra board early

Willcox leaves Telstra board early

Summary: Telstra director Peter Willcox has stood down from the Telstra board three months early due to his involvement in the James Hardie asbestos law suit.

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TOPICS: Telcos, Telstra
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in brief Telstra director Peter Willcox has stood down from the Telstra board three months early due to his involvement in the James Hardie asbestos law suit.

The former chief of BHP, brought in by former chairman Donald McGauchie, announced in May that he had tendered his resignation to the board due to his concern that the asbestos law suit against James Hardie may cause the telco embarrassment.

Willcox was one of 10 James Hardie directors targeted by the Australian Securities and Investments Commission over breaching his duty of care as a director.

Telstra's board had in May asked Willcox to stay until November when it will hold its Annual General Meeting; however, it today said Willcox would cease to be a director immediately.

"Mr Willcox has made an important contribution to the board as a highly respected member of the Audit, Nomination, Remuneration and NBN Committees," Telstra company secretary Carmel Mulhern said in a statement to the Australian Stock Exchange.

Topics: Telcos, Telstra

Liam Tung

About Liam Tung

Liam Tung is an Australian business technology journalist living a few too many Swedish miles north of Stockholm for his liking. He gained a bachelors degree in economics and arts (cultural studies) at Sydney's Macquarie University, but hacked (without Norse or malicious code for that matter) his way into a career as an enterprise tech, security and telecommunications journalist with ZDNet Australia. These days Liam is a full time freelance technology journalist who writes for several publications.

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Talkback

7 comments
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  • No mention

    Pity they didnt seem to want to mention the reasoning behind his departure on their internal intranet home page. They only said the following

    As a result of orders by the Supreme Court of New South Wales in ASIC v Macdonald today, Peter Willcox has ceased to be a director of Telstra, effective immediately.

    Mr Willcox had previously announced that he would not stand for re-election at the Telstra Annual General Meeting in November. The Board of Telstra expressed its sincere thanks to Mr Willcox for his valuable work since joining the Board in 2006.

    Mr Willcox has made an important contribution to the Board as a highly respected member of the Audit, Nomination, Remuneration, and NBN Committees.
    anonymous
  • re. no mention

    unfortunately, the truth has never been one of telstra's atributes.
    anonymous
  • re: No mention

    It was mentioned in the first paragraph

    A quick google search also found the following

    Mr Willcox was banned from managing a company for five years and fined $30,000 for breaching the Corporations Act in his role at building products company James Hardie Industries NV.
    anonymous
  • AntiTelstraCircus back in Town.

    The Anti Telstra Circus is operational again. Wake up clowns, Australians are awake to the real reason you criticize Telstra.

    And that reason is to gain financial advantage for your own selfish interests. The smoke and mirrors worked for a while but you are now exposed.
    anonymous
  • Wake up Sydney

    Telstra needs a clean out of Sol-sters and corporate crooks if it is going to survive. Just to reiterate a previous comment..

    "Mr Willcox was banned from managing a company for five years and fined $30,000 for breaching the Corporations Act in his role at building products company James Hardie Industries NV."

    One of the great recruitment decisions of the Sol era.
    anonymous
  • Are you the pot or the kettle, Mr. L?

    Written and spoken "hypocritically" for his financial advantage and own greedy, selfish interests, by Mr. Lawrence.

    "The husband of a major Telstra MD (misleading and deceptive) shareholder"!
    anonymous
  • Consider your words

    RS you gave me a fright.

    I initially read you text as "The husband of a major Telstra Managing Director" Then I realised you meant something totally different.

    Any more of this and you will give me a heart attack
    anonymous