KEY POINTS:
Just three weeks after the announcement of his appointment to the new role as Telecom's chief transformation officer, Simon Moutter is leaving the company to head Auckland Airport.
The airport said today that Mr Moutter would replace chief executive Don Huse, who announced his retirement from the position at the airport last October after five years in the job.
Auckland Airport chairman Tony Frankham said an international recruitment search was carried out to find Mr Huse's replacement.
Mr Moutter is to take up the new job no later than August 18.
His remuneration package would include a salary of $800,000 a year, plus a short term incentive of up to $600,000 a year, the airport said.
He would participate in a long term incentive plan, under which he would be granted three million phantom options.
Phantom options are notional shares, which will be based on a price of $2.20. If certain conditions are met Mr Moutter can exercise them after set time periods for the company's share price minus $2.20.
Auckland Airport shares closed yesterday at $2.25.
Mr Moutter lives in Auckland and is married with four children.
Telecom chief executive Paul Reynolds said Mr Moutter, who had been the company's retail division acting chief executive, had made a major contribution to Telecom in the past nine years in various senior roles, including that of chief operating officer.
With five new appointments to the Telecom executive team already made, Telecom expected to announce its retail chief executive in the near future.
- NZPA
