Telecom has announced the appointment of Auckland International Airport boss Simon Moutter to the role of CEO and managing director, effective September 1 this year.
Moutter has previously held top roles at Telecom, including COO.
Telecom chairman Mark Verbiest says in a release from Telecom that Moutter has demonstrated through his current role that he can ‘deliver growth in a challenging environment’.
"As such, the Telecom board is confident Simon has the right skill set to lead Telecom as it adapts to the opportunities and challenges driven by significant changes to its structure and operating environment.”
On top of a base salary of $1.35 million, Moutter will be eligible for an annual short term performance incentive of $750,000 in cash, plus $600,000 in shares - although he will be restricted from selling these for two years.
As a long term incentive, Moutter will also be eligible for $1 million in share rights annually. The vesting of these is subject to performance hurdles, and will typically not occur until three years after the share rights have been granted.
"While Telecom is a smaller company than it was following the Chorus demerger,” Verbiest says, "it retains a significant level of scale, challenge and complexity, and the package reflects that.
"Telecom is currently the largest listed company by market capitalisation on the NZX.”
Telecom’s outgoing CEO Paul Reynolds, who has been in the job for four and a half years, announced back in August 2011 that he would retire upon completion of the demerger from network arm, Chorus.
The appointment of Moutter follows a four-month candidate search, during which time many tipped Gen-i CEO Chris Quin for the job.
Verbiest adds that it is ‘pleasing’ to be able to give the job to a New Zealander, while Moutter himself says he is excited to be returning to Telecom.
"I am looking forward to returning to the telecommunications industry, where Telecom, now subject to significantly less regulation, is free to focus on delivering world class products and services to our customers throughout New Zealand.”
Moutter left Telecom for AIA in 2008. He had worked there for nine years, occupying the roles of COO, business, COO, New Zealand, group general manager, network and international, and general manager, network delivery.
Before joining the telco Moutter was CEO of New Plymouth’s Powerco Limited.