Alexander Lewis 
May 06, 2024
Singapore Telecommunications (Singtel) subsidiary Optus has appointed Stephen Rue as its new CEO. Rue, who has led Australia's National Broadband Network (NBN) since 2018, will replace Kelly Bayer Rosmarin, who resigned in November 2022 following outrage over the nationwide network and cyber attack.
However, Rue's appointment comes at a time of controversy for Optus, which has faced significant challenges in recent years; including a 12-hour network outage that affected more than 10 million Australians and a major cyber attack costing millions of exposed users' data. The company is working to restore trust and rebuild its reputation.
Read more: Telstra 3G network shutdown postponed over inaccessibility of emergency calls
According to the report, Rue's financial expertise and experience in running Australian businesses make him a strong candidate to lead the turnaround of Optus.
Rue's priorities will include addressing the company's low return on invested capital (ROIC) and improving efficiency rather than pursuing aggressive market share growth.
Optus is looking to expand its market share locally, with a recent deal with leading Australian telecoms firm TPG Telecom to build a regional multi-operator core network.
Additionally, shares of Optus's parent company, Singtel, increased 1.3% to $2.41 after the announcement that Optus finance chief Michael Venter will continue as interim CEO until Rue steps down in November.
