What’s one of the best ways to go one up on the competition? Hire their former CEO.
That’s just what StarHub announced today, when it said that its current CEO Terry Clontz will be retiring in January 2010, and former M1 CEO Neil Montefiore has surfaced to fill his shoes – pending regulatory approval.
Earlier this year on Feb 1, Neil stepped down from M1 and its then CFO Karen Kooi stood in as acting CEO, only to be confirmed as CEO a little more than two months later.
Now Neil, whom Terry has known “on a professional and personal level for ten years”, will take the reins of the number two telco in Singapore – a position which he probably wanted M1 to reach during his tenure.
Will this fuel further speculation of consolidation in the local telco scene? You bet. StarHub and M1 were already partners in the Infinity consortium, which put in a failed Netco bid in the Next Gen NBN project. And M1’s fixed broadband service essentially rides off StarHub’s cable modem infrastructure.
And if being pals doesn’t work out, StarHub can have the dirt on M1 – where they are good, and where they can hit it hard.
StarHub, 1 – M1, 0.