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, these negations have been very complex and very tough and are continuing an initial agreement to negotiate further was signed in December 2009, followed by the signing of a heads-of-agreement in June 2010.