Optus has appointed Stephen Rue as CEO, replacing interim CEO Michael Venter. Rue, the current CEO of Australia’s National Broadband Network (NBN), will step into the top job at Australia’s second-biggest telco in November 2024.
“We’re extremely pleased to have someone of his calibre to lead the next chapter at Optus,” said Chairman Paul O’Sullivan. “His experience in setting up the digital backbone of Australia will serve us well as we reinvigorate Optus as Australia’s leading challenger telecommunications brand. We expect Stephen’s operational and financial background to lift service standards significantly for the benefit of our customers.”
“My job will be to take care of Optus’ customers, people and business and to provide strong competition and choice,” said Rue. “I look forward to accelerating the transformation at Optus so fellow Australians continue to have the choice of a strong alternative telecoms provider and the country as a whole can harness the power of digital connectivity to drive economic participation and social inclusion.”
The CEO appointment coincides with the introduction of a new governance model that aligns with the Singtel Group’s move in 2022 to adopt a decentralised operating company-driven structure to empower its businesses and leverage commercial synergies and capabilities to drive growth. Singtel owns Optus.
In the future, the Optus CEO and executives will report to the Optus Board, and Stephen will join the Board and report to the Chairman. The Board and executives will work together to reset strategy and rebuild customer trust in the Optus brand. Members of the Optus Board include Paul O’Sullivan, Yuen Kuan Moon, John Arthur, Lim Cheng Cheng and Michael Venter.
O’Sullivan also thanked the interim CEO, who will stay in the role until Rue takes over later this year. “I would like to thank Michael Venter for his leadership as acting CEO during this interim period,” O’Sullivan said. “He has been unstinting in his efforts to rebuild customer trust and strengthen the business and will remain an asset to Optus going forward.”
