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Telstra Corporation Limited (ASX:TLS) has announced new topline organizational structural changes along with the Executive Leadership team effective from 1st October 2018. The objective of this movement is to ensure the simplification of its products and services built on new technology and remove duplication, hierarchy, and silos across the organization. These initiatives will improve operating efficiency and productivity across the entire business chain.
According to the release, Product & Technology segment will push an integrated product and technology roadmap to deliver innovative and simple product experiences which will support to lead the market and drive profitability growth. There are 4 senior members who will leave the company this year, and these include Warwick Bray, Stephen Elop, Will Irving and Joe Pollard. In turn, Ms. Robyn Denholm will move to the new position of Chief Financial Officer (CFO) & Head of Strategy and she will continue to support the CEO to drive the overall strategy and ensure long-term shareholder value growth while Brendon Riley will become the CEO of Telstra InfraCo (an infrastructure division of the Group). Besides this, Michael Ebeid will join the company from 8 October 2018 to run the Enterprise team servicing Australian and international business and government customers with market-leading solutions and services. While Nikos Katinakis will join the company in mid of October this year.
With this announcement, the stock climbed up 1.6 per cent with the intra-trading volume of more than 14.81 million. It traded at $2.805 with the market-cap of circa $32.83 Bn as of July 30, 2018 before market close (AEST: 3:30 P.M.).
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