Telstra Corp Ltd has appointed David Moffatt as its new chief financial officer and group managing director, finance.

Moffatt, 40, who is currently chief executive officer of General Electric Australia and New Zealand, will replace Paul Rizzo, who is leaving the company to head the Melbourne Business School.

Moffatt, who will take up his new position on 1 March 2001, will be based in Melbourne and will report to chief executive Ziggy Switkowski.

Telstra said Moffatt will join the leadership team responsible for achieving Telstra's vision to be a leading international electronic communications and information services company.

"Strong financial management will continue to be central to Telstra's future success and I am  confident that David will provide disciplined and far sighted leadership," Switkowski said.

"The challenges ahead include optimizing returns from existing assets and investments, strengthening the balance sheet in a capital hungry industry and working with the leaders of Telstra's range of businesses to identify and implement value-creating opportunities in Australia and Asia."

Before joining General Electric in Australia in 1991, Moffatt worked in corporate positions in a number of industries for companies such as Boral, Citibank, Bain & Company and Palmer Tube Mills.