Telstra Wholesale head steps down

Telstra veteran Stuart Lee to leave telco

Stuart Lee will step down as Telstra Wholesale group executive from 31 March, the telco announced today.

Lee has worked at Telstra for almost 45 years and has led its wholesale business since 2011. He is the only senior executive to have worked with all five of the telco’s CEOs, Telstra said in a statement.

“Telstra Wholesale has substantially improved customer focus under Stuart's leadership while returning to growth after years of decline,” Telstra CEO Andrew Penn said in a statement.

“He is widely respected for his courage, values and getting things done. Our major retail and wholesale competitors hold us in higher regard as a wholesale supplier. I am grateful to Stuart for his support of me during my time at Telstra and appreciate his wise counsel.”

Will Irving, currently group managing director, Telstra Business, will replace Lee. Irving has led Telstra Business since late 2011. Prior to that he was group general counsel at the telco.

Telstra Wholesale reported revenue of $2.59 billion for FY15, up 11.1 per cent on FY14 largely thanks to an increase in NBN infrastructure receipts as the rollout of the National Broadband Network continues.

Telstra Retail head Gordon Ballantyne departed the telco late last year (a permanent replacement for Ballantyne has yet to be announced after his successor, Karsten Wildberger, in December resigned for personal reasons) .

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