“With a growing number of these cyber attacks some of our customers are asking us what ID documents we keep, for how long, and for what reason. These are all fair questions and people are right to be asking them,” she said.
“We agree the time is right for a discussion on the laws around keeping data. As we do we have to get the balance right – and it’s a fine balance – between identifying our customers, protecting them against fraud, maintaining their privacy, and helping law enforcement combat crime.”
Mullen said the Optus hack was a timely reminder to companies never to get complacent about their cyber security. Credit:Nikki Short
Mullen and Brady’s comments were made after the former announced plans to retire within two years. “I have been on the Board for 14 years so it is only natural for there to be speculation on my tenure, especially as we now have Vicki in place as the new CEO,” he said.
“My current term with the Board ends in October next year and I have two significant obligations still ahead of me. Firstly, I need to do everything I can to support Vicki in her new role, and secondly, I need to ensure that, in addition to the capable directors already on the Board, the Board is strengthened by the addition of new directors so that my colleagues have a strong line-up of candidates from which to choose when deciding upon my successor.
“If both of these tasks are completed by next year’s AGM, then I will not be standing for re-election,” he said.
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He said if he was unable to complete the tasks he had set out for himself, he would stand for re-election intending to find a new chairman within six to 12 months. That would bring his term as chairman to eight years and his time on the board to 16 years.
Mullen also announced the retirement of longstanding board member, Nora Scheinkestel, which is effective immediately. He described her as “one of the very best directors” he had worked with. The remaining board directors are Eelco Blok, Roy Chestnutt, Craig Dunn, Bridget Loudon, Elana Rubin, Niek Jan van Damme and Sue Laver.
Telstra shares are up 1.4 per cent at $3.88 in early morning trading.
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