Telstra CEO steps down over 'differences'

The outgoing chief executive of Australian telecommunications giant Telstra said his departure was sparked by differences between him and the company’s board of directors.

Telstra, Australia’s largest listed company, announced this week that CEO Ziggy Switkowski would stand down by July as the majority government-owned company headed towards full privatisation.

“I know there must be complete alignment between the board and the CEO regarding strategy, execution priorities, and key measures for success,” Switkowski said in a message to Telstra staff.

“I feel that this alignment has been difficult to achieve in recent times. In these circumstances, the CEO should step down.”