Reynolds to leave Telecom next year

CEO will depart after structural separation process completed

Telecom has announced that CEO Paul Reynolds will leave next year, after the process of structurally separating Telecom is complete.

In a statement, Telecom says "it is expected that the board of New Telecom [the telecomms and IT business that will emerge from the separation as completely separate to Chorus] will begin a search process during 2012 to identify Paul Reynolds' replacement."

Telecom chairman Wayne Boyd, who is also leaving, at the end of this year, says in the statement: "I am particularly delighted Paul has agreed to stay on and provide continuity of leadership while the New Telecom business is established under a new chairman and, ultimately, a new CEO. Until then, Paul is fully committed and mandated to lead Telecom towards the completion of the demerger and New Telecom in its establishment as a separate business."

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Tags structural separationtelecomNew TelecomPaul Reynolds

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