Synopsis
Soon after the government announced the National Broadband Network (NBN) in April 2009, Telstra finally understood that changes were now inevitable and they reacted swiftly. A new management team was appointed led by the new CEO, David Thodey. Telstra immediately announced its support for the NBN and its willingness to work together with the government. The company also put its weight behind the trans-sector concept which will be the avenue to generating new revenue. Negotiations were launched with the government investigating how Telstra could best participate, including taking a shareholding in NBN Co. A first agreement was reached at the end of 2009.