NBN Co CEO Stephen Rue is stepping down from his role and moving on to lead Optus. Rue joined NBN Co back in 2014 as the CFO, amidst the bulk of the network’s rollout, and became CEO in 2018.
His announcement to leave the company comes at an interesting time for both companies. NBN Co is starting to refocus on quality-of-life upgrades for its users (including an upcoming NBN 100 speed boost for fibre homes). Meanwhile, Optus has had a rough two years, between a data breach in late 2022 that left millions of Australians worried for their online safety, and an almost day-long outage in late 2023, that culminated with the resignation of Optus’ former CEO, Kelly Bayer Rosmarin. Optus is currently also working on a regional network-sharing agreement with TPG Telecom.
“It has been an enormous privilege to work alongside a talented team dedicated to connecting Australians to high-quality broadband services across the country,” Rue said.
“Our purpose has always been such a great source of pride and I am so proud of what the team at NBN has achieved, and will continue to achieve, in the future.”
Rue will take the reigns over at Optus in November 2024, while NBN Co CFO Philip Knox will serve as interim CEO in his stead in “due course”.
“Stephen was chosen [as Optus CEO] after a rigorous process that involved a slate of high-quality candidates. We’re extremely pleased to have someone of his calibre to lead the next chapter at Optus. His experience in setting up the digital backbone of Australia will serve us well as we reinvigorate Optus as Australia’s leading challenger telecommunications brand. We expect Stephen’s operational and financial background to lift service standards significantly for the benefit of our customers,” Optus chairman Paul O’Sullivan said.
The telco giant is also introducing a new governance model for the company. Going forward, the Optus CEO and its executives will answer to the board, with the CEO to join the board, and report to the chairman. “The Board and executives will work together to reset strategy and rebuild customer trust in the Optus brand,” the company said.
Image: Optus, NBN Co, Gizmodo Australia