17 Nov 2010

Telecom director resigns

7:46 am on 17 November 2010

Telecom has lost one of its directors. Sachio Semmoto, who founded two Japanese telecommunications companies and was appointed to Telecom's board in March last year, resigned because of health reasons.

Telecom's chairman, Wayne Boyd, says it isn't appropriate to appoint a replacement for Dr Semmoto because of the uncertainty around the Government's ultra-fast broadband initiative.

Telecom shares fell two cents to $2.20 on Tuesday.