Telstra Corporation Limited (known as Telstra) is Australia's largest telecommunications company which builds and operates telecommunications networks and markets voice, mobile, internet access, pay television and other products and services.
Telstra has a long history in Australia, originating together with Australia Post as the Postmaster-General's Department. Telstra is now fully privatised and was undergoing a change program to become more customer focused under its previous CEO, David Thodey.
The federal government's National Broadband Network (NBN) is causing changes to the industry and will see the company progressively sell its copper and HFC networks to the government's NBN holding company.
Current CEO Andy Penn has been struggling with the company's market value having declined substantially under his leadership, among criticism of his and some of his executives' pay, and continued departures of senior executives.