Stephen Rue, who is currently CEO of Australia’s National Broadband Network (NBN),has been appointed CEO of Optus with effect from November 2024.
Stephen joined NBN as CFO in 2014 before becoming CEO in 2018. In his decade at NBN, he led the nation’s broadband rollout to completion, connecting over 8 million Australian homes and businesses with fast and secure broadband access.
The CEO appointment coincides with the introduction of a new governance model that is in line with the Singtel Group’s move in 2022 to adopt a decentralised operating company-driven structure to empower its businesses and leverage commercial synergies and capabilities to drive growth.
Moving forward, the Optus CEO and executives will report to the Optus Board and Stephen will join the Board and report to the Chairman. The Board and executives will work together to reset strategy and rebuild customer trust in the Optus brand. Members of the Optus Board include Paul O’Sullivan (Chair), Yuen Kuan Moon, John Arthur, Lim Cheng Cheng and Michael Venter.
Stephen Rue said, “I’m honoured and excited to be given the opportunity to lead Optus, a company that has strived to serve Australians for over two decades. Optus’ continuous investments in critical infrastructure through the years has resulted in an extensive 5G network that is being strengthened in regional Australia. My job will be to take care of Optus’ customers, people and business and to provide strong competition and choice. I look forward to accelerating the transformation at Optus so fellow Australians continue to have the choice of a strong alternative telecoms provider and the country as a whole can harness the power of digital connectivity to drive economic participation and social inclusion.”
Singtel Group CEO, Yuen Kuan Moon said, “Optus has been part of the Singtel stable for two decades and remains a strategic long-term commitment. We are extremely excited to have Stephen, with his deep understanding of the industry and strong operational experience to take Optus forward. In today’s uncertain economic environment, businesses need greater independence and agility to better navigate the market and we believe the new governance model will set the Optus management up for success and help Optus restore and cement its position as a leading player in the Australian telecommunications market.”
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