AFR P. Smith 2.3.23 said"Almost six months after taking over the...

AFR P. Smith 2.3.23 said

"Almost six months after taking over the CEO hot seat from Andy Penn, Ms Brady has begun to lay out her plans for the company. She said Telstra would be more willing to work with rivals on initiatives in the years ahead, and aims to broaden its revenue base across industries as digitisation increases.

“It is an exciting time to be in telco, and I’m looking ahead at the next decade as one of profound opportunity ... Connectivity is the bedrock, but it is not the end point, it is just the beginning,” she said in her speech.

Name-checking tech giants including Microsoft, IBM, Google, Salesforce, Amazon Web Services, and Samsung, she said Telstra would need to work with other companies, and develop new skills itself to add layers of technology products and services on top of its networks.

"“Two years ago, we wouldn’t have engaged in these conversations. Partnering wsn’t a strong part of our mindset,” Ms Brady said.

She nominated a plan from the Australian Farmers Federation to go from $75 billion in production today to more than $100 billion by 2030 as an opportunity to deploy so-called internet of things (IoT) technology and other digital technologies.

This would involve connecting its mobile and IoT networks and satellites with complementary technologies, such as long-range Wi-Fi from start-ups like Wagga Wagga-based Zetifi, which it backed as an investor late last year.

“Zetifi is a good example of us needing to get comfortable with not being the only connectivity option available,” Ms Brady said.

“This requires a mindset change. I’ve been in telco for more than two decades, and I’ve seen opportunities pass by because we were defending what we had, instead of thinking about the larger opportunity that could be created if we worked together.

“If we don’t, we risk others capturing that value over our networks.”

Ms Brady hasmade a smooth transition into the CEO roleat Telstra, having previously been chief financial officer under Mr Penn. Earlier this month she announced results showing a 25.7 per cent increase in half-year profits to $934 million, on revenue that rose 7.6 per cent.

Early in his tenure as CEO Mr Pennspoke about Telstra becoming a global technology company, which led some investors to question whether it was looking too far away from its core telecommunications roots.

Ms Brady said those remarks had been somewhat misconstrued, and that it was her intention to ensure Telstra’s expansion into other sectors was not at the expense of growth in core areas.

“I think it was misinterpreted, we are absolutely at our core a telecommunications company and I don’t want it to be misinterpreted, as that will be critical ... However, I think we’ve got an opportunity on top of that connectivity, with the ability to partner and co-create, "she said.

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