The Telstra Corporation Ltd (ASX: TLS) share price has traded slightly lower today after the Aussie telco unveiled its new Chief Financial Officer (CFO).
What did Telstra announce yesterday?
Telstra appointed former Consumer Group Executive Vicki Brady as its new CFO and Head of Strategy.
Ms Brady will start in the new role from 1 July with Acting Group Executive Michael Ackland to be permanently appointed as the head of the Consumer and Small Business segment.
The move comes as Telstra continues to implement its T22 strategy which Ms Brady formed a key part of in her previous role with the group.
The company's share price has remained broadly unchanged around the $3.30 per share mark on the news, particularly given it has bigger growth and profitability issues to deal with in the meantime.
So is Telstra in the buy basket?
Telstra's equity woes have been well-documented as it has battled competition from NBN Co in the fixed broadband rollout and the likes of TPG Telecom Ltd (ASX: TPM) in the 5G network space.
TPG has since abandoned its 5G plans, citing government restrictions on the use of Huawei products and potentially trying to facilitate its proposed merger with Hutchinson Telecommunication (Australia) Ltd (ASX: HTA), but the NBN competition looms large for Telstra.
With lower profit margins across the Telecommunications sector, Telstra has turned to its T22 strategy and a significant business restructure to try and turn around the ship.
The Telstra share price is up 19.1% so far this year but the long-term story for investors has been pretty miserable, with the current $3.29 valuation more than half that seen in February 2015.
With the aggressive competition from the likes of TPG and Vocus Group Ltd (ASX: VOC), I think the short-term outlook for Telstra's share price is deteriorating and I'd be waiting until it's full-year earnings before reevaluating.
For those looking for a more high-risk, high-reward growth play, this top-rated stock in a booming new-age industry could be the perfect portfolio fit.
