David Bedford To Return To NZ

DAVID BEDFORD TO RETURN TO NZ

Telecom New Zealand Chief Executive Theresa Gattung today announced that David Bedford, Chief Operating Officer Australia, will complete his assignment and return to New Zealand in March.

Marko Bogoievski, Telecom's Chief Financial Officer, will assume responsibility for AAPT pending the permanent appointment of a successor to David Bedford. Mr Bogoievski will also continue to perform the CFO function at Telecom.

"David came here in December 2000 for two years, and having completed this period at AAPT, he is keen to return home," Ms Gattung said.

"He has done a fantastic job in improving the financial performance of AAPT. In particular, it has been pleasing to see AAPT's turnaround to being strongly cash flow positive."

Mr Bedford will remain in Sydney through March to ensure a smooth handover with Mr Bogoievski.

"Given we are about to start our annual planning process, it is appropriate that this be handled by the management team that will be responsible for delivering against that plan. As CFO, Marko already has responsibility for group strategy. His familiarity with the Australian context and opportunity will therefore ensure continuity through the transition,” Ms Gattung said.

A search for a replacement is underway and a new Chief Operating Officer for Australia is expected to be appointed in time for the new financial year. Internal and external candidates are being considered for the role.

ENDS

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