SINGTEL’S Australian subsidiary, Optus, has appointed Stephen Rue as its new chief executive (CEO) effective November 2024.
Rue is CEO of Australia’s National Broadband Network (NBN) – a role which he has held since 2018. Prior to that, he served as the chief financial officer of the national wholesale open-access data network from 2014.
On Monday (May 5), Optus said Rue’s appointment comes after an “extensive internal, external and international search”.
“Stephen was chosen after a rigorous process that involved a slate of high-quality candidates… We expect Stephen’s operational and financial background to lift service standards significantly for the benefit of our customers”.
Michael Venter, Optus’ interim chief since Nov 20, 2023, will continue in position until Rue comes onboard.
Once the leadership change takes effect, Rue and other Optus executives will report to the Optus board, which includes Singtel group CEO Yuen Kuan Moon as well as Venter.
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Optus said its board and executives will work together to “reset strategy and rebuild customer trust in the Optus brand”.
In a press statement, Yuen highlighted Optus’ role as part of the Singtel stable for two decades, reiterating that the subsidiary remains a strategic long-term commitment.
Rue’s appointment also coincides with Singtel’s 2022 move to introduce a new governance model that adopts a decentralised company-driven operating structure.
“In today’s uncertain economic environment, businesses need greater independence and agility to better navigate the market, and we believe the new governance model will set the Optus management up for success and help Optus restore and cement its position as a leading player in the Australian telecommunications market,” said Singtel’s Yuen.
Shares of Singtel : Z74 0% ended Friday flat at S$2.38.
