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This man has a problem with his $11bn severance package

By BenRamsden on January 25, 2013

David Thodey $11bn severanceDavid Thodey, Telstra CEO, has $11bn burning a hole in his pocket. I am referring to the payment Telstra will receive from the government as its hands over it’s traditional business to the National Broadband Network Company. It’s a bit like a gigantic severance package – here’s $11bn for you to go and pursue other interests.

Unlike you or I who might be tempted to hang up our boots, buy a yacht and improve our golf handicap; David Thodey has a duty to his expectant shareholders. Corporations are notoriously bad at transforming themselves, even when the war chest is full.

Here are 8 lessons that I have learned from those that have been successful:

  • Riding waves is better than making them.
  • Plan to jump through open windows of opportunity.
  • Manage the consequences, having “the right answer” is not enough.
  • What got you here won’t get you there.
  • Learn to reduce dependency on immunosuppressants.
  • Double the estimated opportunity cost in acquisitions.
  • Feed off a customer data warehouse and agile MIS (they do exist).
  • Ultimately it’s all about relationships with customers and partners.

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