Telstra chief Andy Penn leaves as Vicki Brady set to become CEO

Telco repeats its previous succession path of CFO to CEO.
Written by Chris Duckett, Contributor

Telstra CEO Andy Penn with a mmWave hotspot

Image: Telstra

Australia's incumbent telco has announced that from September, it will have a new CEO as CFO Vicki Brady steps up to lead it.

After seven years as CEO, Telstra said Andy Penn would be retiring after joining the company in 2012 as CFO before replacing David Thodey to lead the telco.

The centrepiece of Penn's time at the helm has been the company's T22 strategy, which saw Telstra reform its corporate structure with InfraCo entities, job cuts, and simplified product lines.

"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," Telstra chair John Mullen said.

"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."

In later years, Penn chaired the Australian government's industry advisory panel on cybersecurity.

Brady, who has long been tipped as the CEO-in-waiting, will be tasked with overseeing the final restructure of the company, and executing on its T25 plans announced last year.

"If T22 was a strategy of necessity, T25 is a strategy for growth," Penn said last year.

As well as being the CFO, Brady has continued in the role of group executive for consumer and small business, and in 2019 became the group executive responsible for strategy.

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