Dunedin Mayor Dave Cull: Gigatown UFB will elevate ‘weightless’ products in IT and IP
Dunedin now ideally placed to become NZ’s leading digital innovation hub, says Chorus CEO Mark Ratcliffe at awards ceremony in Wellington.
Dunedin now ideally placed to become NZ’s leading digital innovation hub, says Chorus CEO Mark Ratcliffe at awards ceremony in Wellington.
Chorus has stated that the Final Pricing Principle (FPP) processes should ensure that the regulated price for broadband services is grounded in the reality of New Zealand’s circumstances.
Victoria Crone is set to become Xero managing director after stepping down Chorus' general manager sales and marketing.
Chorus has announced the appointment of Andrew Carroll as chief financial officer for New Chorus, the entity that will emerge after structural separation.
The appointment is conditional on Telecom shareholders and bondholders approving the proposed structural separation of Telecom and Chorus later this month.
Carroll’s appointment completes the New Chorus executive team.
“It’s great to have a team with such a wealth of experience and knowledge of our business, our history and our people, as we move towards a fibre future for New Chorus and for New Zealand,” New Chorus CEO Mark Ratcliffe says in a statement announcing Carroll's appointment.
“Andrew was the Finance Lead on the Ultra-Fast Broadband negotiations and, as such, played a vital role in making sure that the agreement and the financial terms would be in the best interests of our company and shareholders. He’s very excited to now have the opportunity of putting the UFB proposal into practice, and also contributing to the success of the New Chorus he helped create. I am delighted to have him on board,” Ratcliffe says.
The statement notes: "Carroll has worked for Telecom since 2002, holding senior roles in corporate finance including Manager Financial Strategy and Head of Mergers & Acquisitions, where he was involved in key deals including the Gen-i acquisition and sale of Yellow Pages. Before joining Telecom, Carroll was a director of investment banking at Credit Suisse First Boston NZ."
An independent report by Grant Samuel included in a 532-page scheme booklet sent to Telecom’s shareholders yesterday recommends that the proposed demerger take place, despite risks for investors post-merger.
Chorus 2 CEO-elect Mark Ratcliffe will not sit on the new company’s board, it has been disclosed today.
Chorus kicked off its Ultra Fast Broadband network with a Ministerial photo opporunity in Auckland yesterday.
Telecom has announced that Mark Ratcliffe will be appointed as CEO of Chorus, in the event that shareholders approve the proposed demerger.
The statement from Telecom announcing the move reads: "Telecom has proposed to separate Chorus, its local access infrastructure business, into a standalone listed company in order for it to participate in the Government’s Ultra-fast Broadband initiative.
"A Telecom employee of more than 20 years, including nearly 12 on the Executive Team, Ratcliffe is currently the CEO of Telecom’s Chorus business unit.
"He had previously been named as leading the transition of Chorus through to demerger, and was also Telecom’s executive lead for the Ultra-fast Broadband initiative.
Sue Sheldon, who has been designated as Chorus Chairman if demerger occurs, says in the statement: “We are pleased to have secured Mark’s services, not only to lead the transition of Chorus from business unit to standalone company, but also beyond as the new Chorus establishes itself as New Zealand’s fibre partner.
“Mark offers unmatched experience and credibility, including the establishment of Chorus as an operationally separated business unit in 2008, and his team has built a trusted reputation with the telecommunications industry. This appointment will set a stand-alone Chorus in good stead if shareholders approve the demerger transaction.”
Telecom aims to separate Chorus, via a demerger, by the end of 2011. The move is part of the structural separation of the company, and is subject to shareholder approval.
Chorus has released a draft price list for the services it intends to offer retail service providers as part of the Ultra Fast Broadband initiative.
Telecom has announced that acting Telecom Wholesale CEO Nick Clarke will now report directly to Mark Ratcliffe, CEO of Chorus.
Chorus has announced that it is now more than 80 percent of the way through its roadside cabinet rollout, with the 3,000 mark, out of a total of 3,600 cabinets to be deployed, reached.
Telecom has begun the process of selecting the senior management and governance roles for the two companies that will be created, should the Chorus demerger go ahead.
Vector’s bid to partner with the government in the Ultra Fast Broadband network has failed, but the company may still have a role to play – working with Chorus in its roll out.
In the second part of Computerworld's Q and A interview with Telecom's executive lead on UFB and RBI, Mark Ratcliffe discusses the telco's controversial bid for the government's Rural Broadband Initiative. Telecom has partnered with Vodafone in a joint bid and is currently negotiating with the MED on rolling out a fixed line/wireless solution.
Telecom is committed to finalising its negotiations with Crown Fibre Holdings, despite today’s announcement that it will be competing with another regional consortium for the Ultra Fast Broadband project.