Telecom NZ names Mark Ratcliffe as demerged Chorus CEO
As part of Telecom New Zealand’s proposed functional separation, the company has announced that Mark Ratcliffe would become CEO of infrastructure business spinoff Chorus.
The separation is still waiting on shareholder approval.
Telecom NZ must separate Chorus, its local access infrastructure business, into a stand-alone listed company in order for it to participate in the NZ government’s Ultra-fast Broadband (UFB) initiative.
Telecom has said that it aims to separate Chorus, via a demerger, by the end of 2011.
Ratcliffe is currently CEO of Telecom NZ’s Chorus business unit and has spent almost 12 years on the company’s executive team.
“We are pleased to have secured Mark’s services, not only to lead the transition of Chorus from business unit to stand-alone company, but also beyond as the new Chorus establishes itself as New Zealand’s fibre partner,” said Sue Sheldon, who has been named as Chorus Chairman if the demerger is approved.
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