Telstra CEO to leave early
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Communications giant Telstra Corp announced yesterday that its chief executive Ziggy Switkowski would step down early as Australia&#39;s largest corporation prepared for its full privatization.
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BP Plc  Chief Executive John  Browne will step down at the end of July, 17 months earlier  than planned, the oil giant said on Friday, ending months of  uncertainty about future leadership of the company.
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LONDON -- Northern Rock PLC's chief executive will step down immediately rather than in February as planned, the troubled mortgage lender said Thursday.
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Telstra&#39;s search for a new CEO has begun as incumbent CEO Dr Ziggy Switkowski has agreed to step down from the post. Switkowski&#39;s last day will be 1 July, 2005 and possibly even earlier if the telecommunications company can find a suitable replacement.
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The CEO's resignation likely means more trouble ahead.
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Motorola Inc. on Wednesday said its No. 2 officer, who had been passed over for the chief executive post, will resign at the end of January to seek a top spot with another company.
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The chief executive officer of Telstra saw his tenure cut short this week amid preparations for the AU$30 billion sale of the remainder of the telecommunications heavyweight, likely in early 2006.
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The head of telecom equipment maker  Ericsson's  Redback Networks unit is leaving his  executive position to become vice chairman of the unit,  Redback's chairman said on Thursday.
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Several key executives at AOL announced today that they plan to leave the company, just days before new chief executive Randy Falco is expected to announce a major restructuring of the Internet company's leadership.
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EarthLink founder Sky Dayton said he&#39;s stepping down as CEO of Helio, a move that appears to be part of the plan to&#160;reduce EarthLink&#39;s position in the mobile company.Dayton will become chairman of Helio&#39;s board and Wonhee Sull, formerly Helio&#39;s president and chief operating officer, will take on the role of CEO. Sull was chief operations officer at the founding of Helio and prior to that worked for SK Telecom, which launched the mobile venture in a 50-50 partnership with EarthLink in 2006.A combination of market dynamics and challenges at EarthLink have recently led to changes in the Helio partnership. In November, EarthLink said it would reduce its ownership in Helio to about 22 percent, as part of an announcement of a new SK Telecom investment in the venture. At the time, EarthLink said it wasn&#39;t expecting to invest any more in Helio and that SK Telecom would take over operating control of the joint venture.EarthLink has been struggling&#160;as its traditional customer base of dial-up subscribers continues to shrink. It is working through a restructuring aimed at reversing its losses, including putting its municipal Wi-Fi plans on hold and cutting back on sales and marketing spending.Beyond EarthLink&#39;s troubles, Helio faces a challenging market. Mobile providers that don&#39;t own their own networks, like Helio, have struggled recently. Amp&#39;d, a similar company geared toward young mobile users, filed for bankruptcy protection and put itself up for sale in the middle of last year, but ultimately shut down. ESPN Mobile and Disney Mobile have suffered similar fates.Even though Helio has big-spending users and plenty of cash, EarthLink expects the company to report a year-end loss for 2007 of as much as $360 million on revenue of as much as $170 million. That&#8217;s after SK Telecom and EarthLink started the company with a combined $440 million. Since then, both companies have made additional investments.Helio has almost 200,000 subscribers who beat industry averages by some metrics, the company said. On average, Helio users spend more than $85 per month, compared with an industry average of $50, Helio said. In addition, Helio customers send an average of 550 text messages per month, and 95 percent of Helio users access the Web from their phones, according to the company.
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Richard Notebaert said Monday he will leave as chairman and chief executive officer after the board had chosen a replacement.
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Australia's biggest company, the part state-owned telecom Telstra Corp Ltd., announced its chief executive Ziggy Switkowski would step down in 2005, two years short of the end of his contract.
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Tough times continue at Sprint Nextel, as the company said Thursday that three of its top executives are on their way out.CFO Paul Saleh, Chief Marketing Officer (CMO) Tim Kelly, and President of Sales and Distribution Mark Angelino will leave the company on Friday, according to Sprint Nextel. It wasn&#39;t clear if the executives were leaving voluntarily or were being let go, and company spokeswoman Leigh Horner said in an e-mail that Sprint Nextel isn&#39;t &quot;commenting further or characterizing the nature of these departures.&quot;In a press statement, Sprint Nextel President and CEO Dan Hesse thanked the three for their &quot;dedication and contributions&quot; to the company, and wished them luck in future endeavors.Sprint Nextel is looking to replace the departing executives permanently, but in the meantime their duties are being handled by existing executives.William G. Arendt, currently senior vice president and controller of Sprint Nextel, will serve as acting CFO, while John Garcia, currently senior vice president, product development and management, will serve as acting CMO. Paget Alves, currently Sprint Nextel&#39;s regional president for sales and distribution, will serve as acting president, sales and distribution. All of these executives will report directly to Hesse.The news of the executive shake-up follows the announcement last week that&#160;Sprint would be laying off 4,000 employees and the close 125 of its 1,400 retail outlets&#160;due to the net loss of more than 100,000 customers in the fourth quarter of 2007. At the end of the year, Sprint said it had 53.8 million subscribers, including 40.8 million customers of its traditional post-paid service.The company plans to announce its full fourth-quarter results on Feb. 28.While Sprint struggles, rival carrier&#160;AT&amp;T seems to be doing better, thanks to its partnership as the&#160;exclusive service provider for Apple&#39;s iPhone&#160;device. AT&amp;T&#39;s revenue was up 2.9 percent in the fourth quarter of 2007, largely driven by increases in mobile phone and broadband customers, the company announced Thursday.AT&amp;T saw a net gain of 2.7 million mobile subscribers during the quarter, and most of them came to the company through its iPhone partnership, the company said. Apple said Tuesday it sold 2.3 million iPhones during the quarter.
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Pieter Knook, head of Microsoft's mobile phone group, is leaving to join the UK's Vodafone.
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SYDNEY (Dow Jones)--Telstra Corp.&#39;s (TLS) revenue so far this fiscal year has been growing at a similar pace to the second half of 2003-04, Chief Financial Officer John Stanhope said Monday.
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IN simple and unambiguous terms, if Ziggy Switkowski continued as Telstra chief executive it was likely to cost the telco&#39;s 51.8 per cent shareholder between $3 billion and $6 billion.
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WebMethods Inc. said yesterday that its chief financial officer plans to step down at the end of December, adding to the list of leaders who have resigned from the Fairfax software company in the past two years.