(New Zealand Herald via NewsEdge) British Telecom executive Paul Reynolds is believed to be the front-runner to replace New Zealand Telecom CEO Theresa Gattung, The Australian newspaper reported.
New Zealand Telecom's well-regarded finance chief Marko Bogoievski, who started the process as favorite, was understood not to have made a shortlist of two candidates now being considered by the company's board.
Reynolds, who was also considered for the top Telstra job in 2005, was believed to have gained favor with the board because of his success in creating a separate networks division at the British telecommunications company.
This is the same challenge facing New Zealand Telecom, after regulatory changes were announced by the government last year that would see internal separation of the company into networks, wholesale and retail divisions.
Bogoievski was understood to have always placed conditions on whether he would accept the top job.
New Zealand Telecom chairman Wayne Boyd told The Australian that while he had been hoping to release the news sooner, the board would finalize the appointment by the end of this month.
The continuing search for a replacement for Gattung, who will step down at the end of June, comes as the CEO of New Zealand Telecom's AAPT subsidiary moves to slash costs.
Paul Broad has cut a number of senior staff, including long-time regulatory chief David Havyatt, as he tries to chop 10% off the AAPT's operating costs.
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