RBA's McGauchie promoted at Telstra Corp

Donald McGauchie, an external board member of the Reserve Bank of Australia, has been promoted to chairman of Telstra Corp, Australia's largest phone company.

McGauchie, 54, votes on monetary policy as a member of the RBA's board and has been a director at Melbourne-based Telstra since 1998. McGauchie will oversee a plan outlined last month to focus on existing operations and return A$4.5 billion ($3.3 billion) to shareholders through dividends and share buybacks, he said in a statement.


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