Telstra CEO resigns after 14 years with company

THE head of Australia's biggest telecom company stepped down from the role on Friday after a 14-year career at Telstra.

David Thodey announced the resignation on Friday, after six years as Telstra chief executive, to make way for chief financial officer Andrew Penn to step into the role.

Mr Thodey will remain as CEO of the company until May and stay on in an advisory role at the company until the end of the financial year.

He took over from controversial former CEO Sol Trujillo in May 2009.