SYDNEY -- Andrew Penn will be the new Chief Executive Officer of Telstra, effective 1 May 2015, replacing David Thodey who today announced his retirement after almost six years as CEO.

Telstra Chairman Catherine Livingstone announced that Mr Penn, 51, who is Telstra’s Chief Financial Officer and Group Executive International, had been selected by the Board to be Telstra’s next CEO.

Mr Penn, a former Group CEO of AXA Asia Pacific, has more than 30 years’ experience in Australia, New Zealand, Europe and across Asia-Pacific in roles including chief executive, finance, strategy and other executive positions.

“Andy is a seasoned executive in global markets with proven capability to lead organisations through significant transitions and major expansion,” Ms Livingstone said.

Telstra Corp. Ltd. (ASX: TLS; NZK: TLS)