Reynolds joins Telecom board

AGM amends constitution to enable appointment

An amendment to Telecom's constitution has enabled the company's new CEO, Paul Reynolds, to be join the company's board

The amendment was passed at the company's annual general meeting, held in Dunedin today.

Other resolutions passed at the AGM included the re-election of directors Wayne Boyd, Michael Tyler, Ron Spithill and Murray Horn.

The meeting also passed a resolution allowing the board to issue up to 750,000 ordinary shares and up to 1,750,000 share rights to Reynolds between today's meeting and 3 October 2010.

Reynolds told the meeting he has no plans to sell the company's network, while chairman Wayne Boyd reiterated an earnings hit was expected in the 2008 financial year, partly as a result of costs associated with acheiving operational separation.

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Tags telecomPaul ReynoldsNetworking & Telecomms ID

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