Ex-News Corp CFO Stephen Rue tapped for NBN Co

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.