Telecom has appointed the head of Auckland International Airport, Simon Moutter, to lead the company.
Mr Moutter had previously been Telecom's chief operating officer, and returns to as chief executive of the company after four years at Auckland International Airport.
The telecommunications firm split into two last December, to allow its former network arm, Chorus, to participate in building most of the Government's ultra-fast broadband network.
Mr Moutter will take up the top job at the retail business in September, replacing Paul Reynolds.
He will receive a base salary of $1.35 million a year, and another $2.35 million in performance pay and shares if he meets certain targets.
Milford Asset Management executive director, Brian Gaynor, says Mr Moutter has the right skills and experience to lead Telecom, and while he will be paid quite well if the company reaches its targets, that's necessary to attract someone of his calibre.
He says Mr Moutter has proved a very successful chief executive at Auckland International Airport, by aggressively pursuing airlines and convincing them to fly to the city.
Shareholders Association happy
The Shareholders Association says Telecom's new boss has a good track record, and should be a good leader for the company in the new telecommunications landscape.
Chairman John Hawkins says he is pleased a New Zealander has come up through the ranks to take the top job.
"We had some doubts about bringing in an overseas whizzkid not used to the smaller scale of New Zealand business, they find that quite hard to adapt to."
He says Mr Moutter's experience of working in the New Zealand environment makes him a good choice.