Stephen Rue Appointed New NBN Co Boss
Stephen Rue will replace Bill Morrow as chief executive effective September 1 2018, after Mr Morrow announced his intention to step down in April.
An internal candidate was chosen so a person well acquainted with the project could confidently lead as the build phase concluded.
Dr Ziggy Switkowski, Chair, explained the decision, saying “the appointment of a quality internal candidate reduces the risk of loss of momentum in the business from the leadership change, and ensures continuing ownership and accountability for delivery of the NBN Co Corporate Plan.”
NBN Co is projecting that the rollout should be completed in 2020, pointing to the completion rates they have measured so far. The company stated that “[a]ll key technologies in the Multi-Technology Mix have been launched, 75 per cent of the construction is now finished, and 99 per cent of the country is either in design, construction or complete.”
Incoming Chief Executive Mr Rue first joined NBN Co in July 2014 as Chief Financial Officer, where he was responsible for all financial aspects of the company, industry partnerships and driving operational enhancements across business.
Before NBN Co, Mr Rue had worked in a variety of leadership roles. He was Chief Financial Officer at News Corp Australia for ten years, a Director on boards at Foxtel, REA Group and Australian Associated Press, as well as Chairman of the Melbourne Storm Rugby League Club.
Mr Rue reflected on the role, saying “I am honoured to lead the dedicated and hardworking team here at NBN Co, as well as continuing to work with our industry partners.
“I joined NBN Co because I knew it would make a difference to Australians.
“I look forward to continuing this journey, which will have a real impact on health, education, job creation and prosperity into the future.”
Outgoing Chief Executive Mr Morrow commented on his successor, saying “I am very pleased that one of my senior executives has been selected and will follow me in this exciting role.
“Stephen has been an outstanding team member and is a very popular choice for this challenging role. I warmly congratulate Stephen and wish him well.”
Mr Rue will receive $1.8 million as base pay and a 50% annual incentive should key milestones be achieved as reflected in the balanced scorecard approved by the board.