Telecom New Zealand (NYSE: NZT) has begun searching for a new CEO to run the newly restructured telco, looking at both internal and external candidates.
The CEO search follows current CEO Paul Reynolds' earlier decision to leave the company once TNZ split its retail and wholesale operations into two separate companies.
Breaking up the company was part of an agreement it met with the government in order to participate in the New Zealand's Ultra-fast Broadband (UFB) initiative, TNZ had to agree to parse out its retail and wholesale business (Chorus) into to two separate companies.
Late last month, the two companies--Chorus (NZSE: CNU) and Telecom New Zealand--began trading on the New Zealand stock exchange.
For more:
- Telecompaper has this article
Related articles:
Chorus, Telecom New Zealand take first steps as separate companies
Telecom New Zealand's shareholders green light its breakup plan
Telecom New Zealand CEO Reynolds to leave following demerger
Telecom New Zealand begins building out its portion of UFB network