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Telstra’s Asia troubles

Telstra’s (ASX: TLS) China chief executive Chen Xaiowei left the company’s top position in April this year sighting “personal reasons”.

It has left a hole in the company’s Asian strategy where it hopes to continue to expand its presence. Ms Chen was responsible for the company’s growth and operations in China but only stayed in the position for two years. When she was appointed in May 2011, it was described as a ‘significant milestone’ for the company.

According to the Australian Financial Review another board member, Tim Chen, also stepped away from his role to pursue other opportunities but came back only a month later at the request of CEO David Thodey.

Telstra’s continued long-term growth prospects centre on its ability to grow revenues throughout Asia. In its most recent full-year report the company announced an additional 425,000 mobile subscribers in Hong-Kong alone, taking the total number of international subscribers to 3.9 million. In addition the company’s submarine cable assets are key for its relationship with several Asian countries.

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Motley Fool contributor Owen Raszkiewicz does not have a financial interest in any of the mentioned companies. 

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