Australian incumbent Telstra today announced that its Chief Executive Officer Dr Ziggy Switowski has decided to step down from the role on 1 July 2005, or earlier if a new CEO is appointed beforehand. The agreed date is two years before Dr Switowski’s contract was set to end. The company said that it will start searching for a suitable replacement immediately.
The Australian government is expected to sell its 50.1% stake in Telstra during the second half of 2005. Telstra remains the dominant Australian operator with around eight million mobile subscribers and ten million fixed line customers.