Top Telco Telstra Ltd
(ASX:TLS) has announced that managing director of its Consumer Group, David Moffatt has tendered his resignation after almost a decade with the company.
Mr Moffatt joined Telstra as CFO and group managing director, finance and administration in 2001 and has been in the role of group managing director, Consumer since 2003.
Mr Moffatt says that with the mass market transformation, and the customer migration in particular, nearing completion, now is the right time for a new generation of leaders to be given the opportunity to take the business into its next phase of growth.
CEO David Thodey says Mr Moffatt has played a major role at Telstra in building a world-leading, fully integrated, consumer retail business.
Mr Moffatt will remain in the role for the next six months or until a suitable successor is in place.
Telstra recorded net profit of $4.073 billion in 2009 its best result in four years.
