ACF assignment.docx - Corporate Finance Case Study I...

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Chikakula BandaCorporateFinance CaseStudy ITelstra
Table of ContentsIntroduction.......................................................................................................................2Firm Introduction..........................................................................................................................2Discussion..........................................................................................................................2Corporate governance..................................................................................................................2CALPERS tests..................................................................................................................................................2Ownership structure........................................................................................................................................2Lenders............................................................................................................................................................2Financial market considerations......................................................................................................................3Social constraints.............................................................................................................................................3Conclusion.........................................................................................................................3References.........................................................................................................................3
IntroductionFirm IntroductionTelstra Corporation Limited is an Australian telecommunications company which constructsand operates telecommunications networks across the country. They offer different servicessuch as voice, mobile, internet and pay television among other products and services. Telstrais listed on the S&P/ASX 20 and is Australia’s largest telecommunications company bymarket share. This report will analyse Telstra’s Corporate governance mainly focussing onthe CalPERS test, Telstra’s ownership structure, its lenders, financial market considerationsand social constraints.DiscussionCorporate governanceGovernance embraces the underlying assumption that the companies’ shareholders areimplored to look after their own interests. Different companies have different structures andtechniques for organisational governance. Telstra’s current CEO and MD is Mr. AndrewRichard Penn. Over the past 5 years Mr Penn has received a remuneration of approximately$28.5 million with 45% being base salary and the remaining 55% being in the form of otherremuneration. The Salary payments have mostly been consistent with company performancewith the exception being in 2019 when Mr Penn’s overall remuneration increased by 33%

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Telstra Corporation Limited

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