Andrew Penn will be the new Chief Executive Officer of Telstra, effective 1 May 2015, replacing David Thodey who announced his retirement after almost six years as CEO.

Telstra Chairman Catherine Livingstone announced that Mr Penn, 51, who is Telstra’s Chief Financial Officer and Group Executive International, had been selected by the Board to be Telstra’s next CEO.

Mr Penn, a former Group CEO of AXA Asia Pacific, has more than 30 years’ experience in Australia, New Zealand, Europe and across Asia-Pacific in roles including chief executive, finance, strategy and other executive positions.

“Andy is a seasoned executive in global markets with proven capability to lead organisations through significant transitions and major expansion,” Ms Livingstone said.

“He has played a key role in developing Telstra’s long-term growth strategy and we are delighted he will continue to lead Telstra’s plans to increase customer advocacy, core business value and capitalise on new growth opportunities.

“It is testament to David Thodey that we were able to select the next chief executive from within the business.”

Mr Penn said he was delighted to have been appointed CEO to build on Mr Thodey’s transition of Telstra into a customer-focused organisation with significant opportunities in new businesses, domestic operations and overseas investments and partnerships.

“Telstra plays a critical role to provide leading technology solutions and service to our customers in the consumer, business and broader social environment,” he said.

Mr Thodey will continue to assist with Mr Penn’s transition from 1 May until the end of the financial year and remain available to the business until late August.

Ms Livingstone paid tribute to Mr Thodey’s tenure as CEO, during which the company’s value more than doubled from below $40 billion to a recent 14-year high above $80 billion.

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