Telecom CEO Moutter settles into top job today 13 Aug 2012
- MARKET CLOSE: NZ shares slip on Fonterra dividend cut Business
- Synlait Milk flags faster growth in 2014 Business
- NZ dollar falls after Fonterra holds farmgate price Business
- High school female students excited about IT News
- Chorus warns of more earnings pain from latest review Business
- Restaurant Brands third quarter sales rise 5.4% Business
- Fonterra units sink back to issue price as dividend slashed Business
- Fonterra slashes dividend forecast, holds milk price Business
- MRP to freeze energy price until April 2015 Business
- NZ dollar pares gains after Fonterra holds farmgate price Business
Telecom CEO Moutter settles into top job today
By Paul McBeth
Aug 13 (BusinessDesk) - Telecom's new chief executive Simon Moutter officially settles into the top job today, giving him almost two working weeks to get up to speed before the phone company's annual result.
Moutter will also sit on Telecom's board and on subsidiary TCNZ Finance, the Auckland-based company said in a statement.
He kicks off his tenure ahead of next week’s results announcement, where the phone company will mark its first annual earnings without network unit Chorus, which was spun off as a separately listed entity last November in a bid to grab the lion's share of the government sponsored nationwide fibre build.
Forsyth Barr analyst Guy Hallwright forecasts Telecom will post a 37 percent increase in earnings to $330.2 million as sales fall 7.4 percent to $4.68 billion.
Moutter comes in after Scotsman Paul Reynolds' five-year tenure at the top, where he advanced the operational split between Telecom and Chorus that led to last year's divestment.
One of Moutter’s first tasks will be to find a new head of retail with Alan Gourdie exiting at the end of October.
The shares climbed 1.1 percent to $2.695in trading on Friday, and have gained 29 percent this year. The stock is rated an average 'hold' based on 11 analyst recommendations compiled by Reuters, with a median target price of $2.33.
11 Dec 2013 News
New Zealand Government 2.15 million people sign up as KiwiSaver continues to grow Revenue Minister Todd McClay today released the... more
11 Dec 2013 Business News
Article - BusinessDesk Fonterra units sink back to issue price as product squeeze hurts dividend, earnings outlook By Jonathan... more
11 Dec 2013 Entertainment
Sounds Like Waitangi - Greg Johnson, Andrew Fagan & Peter Urlich headline Waitangi Day at Mangawhai Tavern Sounds Like Waitangi... more
10 Dec 2013 Lifestyle
Dunedin City Council Here’s Your Chance to be a Rock Star! Dunedin (Tuesday, 10 December 2013) – If you’re a... more
11 Dec 2013 Property
New Zealand Government Hon Dr Nick SmithMinister of Housing 11 December 2013 Housing Accords work expanded to Christchurch, ... more
9 Dec 2013 Property
Auckland property values continue to surge ahead, up 15.2 per cent in the last year. QV has
10 Dec 2013 Migration
Doing Our Bit Costs, benefits, rugby and refugees Murdoch Stephens – Doing Our Bit (www.doingourbit.co.nz) Amongst all... more
10 Dec 2013 Travel & Tourism
Article - BusinessDesk Air New Zealand expects 1H pre-tax earnings of $166.8 mln, on target to exceed FY earnings By Tina... more
11 Dec 2013 Motor Sport
Cody's D1NZ National Drifting Championship Rnd 2 The Toll Concrete Jungle RacewayRewa Rewa RdWhangareiS... more
10 Dec 2013 Column
Column - Gordon Campbell Gordon Campbell on the latest TPP leaks, and our shabby treatment of asylum seekers by Gordon ... more
9 Dec 2013 People
In less than a year, Lorde has gone from a Year 12 student at Auckland's Takapuna Grammar to a global pop star. The Kiwi's... more
11 Dec 2013 Recruitment
CPIT For immediate release 11/12/2013 Partnership provides much needed skills for the rebuild As the demand for rebuild workers... more