Dunedin now ideally placed to become NZ’s leading digital innovation hub, says Chorus CEO Mark Ratcliffe at awards ceremony in Wellington.
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Chorus has stated that the Final Pricing Principle (FPP) processes should ensure that the regulated price for broadband services is grounded in the reality of New Zealand’s circumstances.
Victoria Crone is set to become Xero managing director after stepping down Chorus' general manager sales and marketing.
Chorus has announced the appointment of Andrew Carroll as chief financial officer for New Chorus, the entity that will emerge after structural separation.
The appointment is conditional on Telecom shareholders and bondholders approving the proposed structural separation of Telecom and Chorus later this month.
Carroll’s appointment completes the New Chorus executive team.
“It’s great to have a team with such a wealth of experience and knowledge of our business, our history and our people, as we move towards a fibre future for New Chorus and for New Zealand,” New Chorus CEO Mark Ratcliffe says in a statement announcing Carroll's appointment.
“Andrew was the Finance Lead on the Ultra-Fast Broadband negotiations and, as such, played a vital role in making sure that the agreement and the financial terms would be in the best interests of our company and shareholders. He’s very excited to now have the opportunity of putting the UFB proposal into practice, and also contributing to the success of the New Chorus he helped create. I am delighted to have him on board,” Ratcliffe says.
The statement notes: "Carroll has worked for Telecom since 2002, holding senior roles in corporate finance including Manager Financial Strategy and Head of Mergers & Acquisitions, where he was involved in key deals including the Gen-i acquisition and sale of Yellow Pages. Before joining Telecom, Carroll was a director of investment banking at Credit Suisse First Boston NZ."
An independent report by Grant Samuel included in a 532-page scheme booklet sent to Telecom’s shareholders yesterday recommends that the proposed demerger take place, despite risks for investors post-merger.