CFO Houlden to depart Telecom

Britain beckons for chief financial officer

Telecom New Zealand today announced that chief financial officer, Russ Houlden, has resigned to become CFO of a FTSE 100 company. This role enables Russ to return to the United Kingdom where his family reside and where his children continue their education.

In a statement to the NZ Stock Exchange today, Telecom CEO Paul Reynolds is quoted as saying: “Russ has done an outstanding job in his two years at Telecom, during a period of profound change and significant challenges for our company.

“Russ has brought great rigour, discipline and insight to our financial planning processes as the company’s transformation gathered pace.

“He worked tirelessly to develop and foster a strong financial leadership team around him. The depth and capabilities of this team has grown significantly under Russ’ leadership.

“I respect the choice Russ has made to return home and be with his family while taking up a challenging new career opportunity, and I wish him all the best,” said Dr Reynolds.

Houlden is quoted as saying: “I am proud of what Telecom has achieved since 2008, including faster broadband, and market leadership in ICT. Importantly, our financial results to date have met market guidance. I wish Paul and the whole Telecom team every success in the future."

Houlden's successor has yet to be appointed, and he will stay at Telecom until that position is filled.

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