Telstra Corporation Ltd
(ASX:TLS) is expected to appoint chief financial officer John Stanhope as a director of pay-TV operator Foxtel this week.
The Australian newspaper reports that the telco is entitled to appoint four Foxtel directors, including the chairman, by virtue of its 50% shareholding.
The news of Mr Stanhope’s likely appointment follows the departure of consumer and channels boss David Moffat and voice, broadband and media chief Justin Milne in recent months.
It comes at a crucial time for Telstra, which could be forced to offload its Foxtel stake if negotiations with the Federal Government over the proposed national broadband network fall through.
Mr Stanhope is a 43-year veteran of Telstra and was appointed to the Telstra board in May.
His pending appointment to Foxtel is believed to be a sign of the seriousness with which Telstra takes its investment in the pay-TV provider.
Telstra booked a profit of $4.07 billion in fiscal 2009.
