“The threat and sophistication of the attackers grows every day, and to address the threat business needs to put aside competitive rivalry, and work constructively across industries, with government, and with the community to protect Australia from this modern scourge.”

Brady said Telstra was seeing an increase in cyber threats and there had to be a discussion on the laws of keeping data.

“The recent attack on one of our competitors puts into stark focus just how real these threats are,” Brady said.

Telstra’s employees were among the victims last week of a data breach of a rewards platform, with names and email addresses of current and former staff posted online. The internal Telstra systems were not hacked, but Brady said ongoing vigilance was required.

“We agree the time is right for a discussion on the laws around keeping data. As we do we have to get the balance right – and it’s a fine balance – between identifying our customers, protecting them against fraud, maintaining their privacy, and helping law enforcement combat crime,” she said.

Mullen and Brady’s comments were made after the former announced plans to retire within two years, a move which involves the completion of two tasks.

“I need to do everything I can to support Vicki in her new role, and secondly, I need to ensure that, in addition to the capable directors already on the board, the board is strengthened by the addition of new directors so that my colleagues have a strong line-up of candidates from which to choose when deciding upon my successor,” he said. “If both of these tasks are completed by next year’s AGM, then I will not be standing for re-election.”

Loading

If Mullen is unable to complete his plan, he intends to stand for re-election but will find a new chairman within six to 12 months. That would bring his term as chairman to eight years and his time on the board to 16 years.

Mullen also announced the retirement of longstanding board member Nora Scheinkestel, which is effective immediately. He described her as “one of the very best directors” he had worked with. The remaining board directors are Eelco Blok, Roy Chestnutt, Craig Dunn, Bridget Loudon, Elana Rubin, Niek Jan van Damme and Sue Laver.

Telstra shares closed at $3.83.

The Business Briefing newsletter delivers major stories, exclusive coverage and expert opinion. Sign up to get it every weekday morning.