Telecom Lead Asia: Telecom Corp. of New Zealand, a
telephone company in New Zealand, has appointed Simon Moutter as chief
executive officer.
Moutter resigned as CEO of Auckland International Airport
(AIA) to take up the telecom job, replacing Paul Reynolds.
The new CEO will receive a base salary of $1.1 million
plus performance bonuses in cash and shares.
Moutter, who was chief operating officer at Telecom
before leaving in 2008, will head the nation’s biggest supplier of phone and
broadband services and owner of the second-largest mobile network.
Telecom, which spun off its Chorus unit last year, is
cutting costs to help spark a profit recovery.
Moutter’s knowledge of the telecommunications industry
in New Zealand is strong and deep. He has demonstrated he can deliver growth in
a challenging environment,” said Chairman Mark Verbiest in the statement.
Moutter will be entitled to NZ$750,000 in cash and shares
worth NZ$600,000 when he meets performance targets set by the board, the
company said. He will be eligible for NZ$1 million in share rights annually.
Moutter worked at Telecom from 1999, responsible for
network operations before becoming head of operations in 2002. Before that, he
was CEO at electricity company Powerco.
