Former News Corp CFO, Stephen Rue appointed to lead NBN Co
Stephen Rue has been appointed to lead the NBN Co, the government owned corporation charged with building the national broadband network.
Rue joined News Limited in 1996 and was appointed News Corp’s CFO in 2003. He was replaced by Susan Panuccio in 2013 and joined NBN Co the following year as chief financial officer.
Rue was News Corp’s CFO for ten years before leaving in 2013
Rue will take over from outgoing boss Bill Morrow as part of a change of guard that saw communications head Karina Keisler announce her departure in February.
Along with his tenure at News Corp, Rue has also served as a director on boards including Foxtel, Fox Sports, REA Group and Australian Associated Press, along with chairing the Communication Newspaper Group in Perth and Melbourne Storm Rugby League Club.
The government’s announcement:
The Turnbull Government welcomes the appointment of Mr Stephen Rue as the new chief executive officer of NBN Co. Mr Rue will also replace outgoing CEO Mr Bill Morrow on the board of NBN Co as Executive Director.
Mr Rue will commence his new roles on 1 September 2018.
Mr Rue has been a member of the nbn Executive Committee since July 2014 and will lead nbn through the years ahead as it completes the network rollout and transitions to a self-sustaining operating model. Mr Rue has fulfilled the role of nbn Chief Financial Officer during the past four years, including transforming the organisation’s capability across its finance, procurement and supply functions.
Shareholder Ministers pay tribute to Mr Morrow for his exemplary leadership and vision at the helm of nbn over the past four years. The hallmark of Mr Morrow’s leadership is the 4.2 million connected nbn services across Australia, virtually all of which were achieved under his tenure.
To ensure continuity at the Board level as the nbn prepares for the post-rollout phase, the Government is re-appointing Dr Kerry Schott and Ms Shirley In’t Veld as non-executive Directors of NBN Co, for further terms of three years.
Ms In’t Veld’s legal, strategic business development, management and governance background contribute strongly to the skills mix of the nbn Board. Dr Schott is the longest serving member of the Board and her deep knowledge of the company and its financial processes will be invaluable in the period ahead.
What the heck does he know about running networks??
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A huge amount plus he is surrounded by a very talented team at nbn. He is an excellent and proven business leader.
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