Huge losses looming, says TelstraClear CEO

Leaked email says the too tame company is losing customers

TelstraClear is on a "trajectory to disaster" and facing a loss of $7 million, says chief executive Allan Freeth in a leaked email.

On Friday, Freeth was forced to backtrack on the email which describes his company as being more like a "Bambi character" than Uma Thurman's character in Kill Bill. He also said that customer service is "indifferent at best, rubbish at worst" in the email.

Freeth said that a forecast pre-tax profit of close to $15 million is set to become a $7 million loss as the company is "slowly and gradually losing customers". The email also said that revenue is set to be $67 million worse than expected, reports The Sydney Morning Herald. The email was sent to staff on Tuesday afternoon and withdrawn from TelstraClear's computer system early the next day. Freeth had used the email as notes in meetings with the company's top 50 managers, but the notes were released to staff because someone had decided to leak the confidential information, says a TelstraClear spokesman. Freeth took the reins at TelstraClear in April last year. Previously, he was the CEO of rural services firm Wrightson.

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