Ratcliffe will be CEO of Chorus after demerger: Telecom

Once demerger is approved and implemented, incumbent will hold role

Telecom has announced that Mark Ratcliffe will be appointed as CEO of Chorus, in the event that shareholders approve the proposed demerger. The statement from Telecom announcing the move reads: "Telecom has proposed to separate Chorus, its local access infrastructure business, into a standalone listed company in order for it to participate in the Government’s Ultra-fast Broadband initiative. "A Telecom employee of more than 20 years, including nearly 12 on the Executive Team, Ratcliffe is currently the CEO of Telecom’s Chorus business unit. "He had previously been named as leading the transition of Chorus through to demerger, and was also Telecom’s executive lead for the Ultra-fast Broadband initiative. Sue Sheldon, who has been designated as Chorus Chairman if demerger occurs, says in the statement: “We are pleased to have secured Mark’s services, not only to lead the transition of Chorus from business unit to standalone company, but also beyond as the new Chorus establishes itself as New Zealand’s fibre partner. “Mark offers unmatched experience and credibility, including the establishment of Chorus as an operationally separated business unit in 2008, and his team has built a trusted reputation with the telecommunications industry. This appointment will set a stand-alone Chorus in good stead if shareholders approve the demerger transaction.” Telecom aims to separate Chorus, via a demerger, by the end of 2011. The move is part of the structural separation of the company, and is subject to shareholder approval.

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