It was recently announced by Telecom that its Chief Financial Officer, Russ Houlden had resigned. Telecom added that Houlden had resigned because he was going to become CFO of a FTSE 100 Company. By taking this action he would be returning to UK where his family lives.

"Russ has done an outstanding job in his two years at Telecom, during a period of profound change and significant challenges for our Company. Russ has brought great rigor, discipline and insight to our financial planning processes as the company's transformation gathered pace", said CEO Paul Reynolds.

He added that to develop and foster a strong financial leadership team around him he worked tirelessly. Under Russ' management the depth and capabilities of this team had grown.

Reynolds said that he valued the choice that Russ has made to return home and be with his family and take up a challenging new career opportunity and he was proud of the things that Telecom has attained since 2008 which included faster broadband, and market leadership in ICT.

It was informed by Reynolds that Houlden's departure date was not yet finalized whereas he was committed to Telecom until his successor was in place.

In March, it was announced by Telecom's head of mobile Paul Hamburger that he would be finishing his 18 month period with the company.