Telecom director resigns from board

Sachio Semmoto. Photo / NZ Herald

Telecom director Sachio Semmoto is resigning from the board due to health problems, the company said today.

His resignation is effective immediately.

Dr Semmoto was appointed to Telecom's board in March 2009.

No replacement was currently planned because of the uncertainty facing the company as a result of the Government's Ultra-Fast Broadband initiative.

The Japanese entrepreneur was the founder of Japanese telecommunications company eAccess and of Japanese mobile carrier Emobile.

Shares in Telecom were down a cent at $2.21 in early afternoon trading.

- NZPA