We like to stay on top of the big corporate moves because, like it or not, these companies are in our lives… None more so than Telstra – and yesterday its boss Andy Penn announced he would be stepping down in September after more than 7 years at the top. He said the decision was a long time in the making, and the timing was “right” as the telco prepares to deliver its latest growth strategy. Penn oversaw a turbulent period for Telstra as it battled NBN rollout issues and increased competition. The company’s share price diving by nearly 40% since he took the reins can’t have helped… But Telstra chair John Mullen said Penn would be remembered for his “courage” in undertaking significant cost-cutting measures during his tenure. Not all of them, like sending call-centres offshore, have been successful. Stepping into Penn’s shoes is Vicki Brady – she has been the company’s chief financial officer since 2019.