The new chief executive of Telecom would need to follow the
lead set by Paul Reynolds of being open and honest to
shareholders, Craigs Investment Partners broker Chris Timms
said yesterday.
Telecom's board announced yesterday it had started the
recruitment process to replace Dr Reynolds.
Mr Timms praised the Scotsman for the openness and
transparency he brought to the operations of Telecom during
his tenure.
"He adopted a more inclusive approach to keep shareholders
informed. That is the main thing he brought to the table.
But he was also prepared to stand up and acknowledge when
things went wrong. That's what we want from a chief executive
officer," he said.
In a statement, Telecom chairman Mark Verbiest said the board
understood the importance of moving rapidly to recruit a new
chief executive after Dr Reynolds announced he intended to
step down once Telecom was successfully established as an
independent company post-demerger.
Chorus listed as a separate company earlier this month.
"We will consider internal and external candidates.
"The board is committed to building on the momentum already
generated as Telecom simplifies its business in order to
deliver both improved service to customers and good returns
for our investors," he said.
Mr Timms said there would be many good candidates in New
Zealand but Telecom would need to look for someone with a
telecommunications background who also had a strong sales
focus.
The new Telecom was more sales oriented now Chorus held the
infrastructure assets.
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