From
http://www.abc.net.au/news/stories/2008/02/22/2169611.htm?section=australia

Just three years ago, when Telstra was in deep corporate trouble in the
boardroom and on the sharemarket, a little-known Hispanic American was
headhunted with the mission of turning the troubled telco giant around.

Sol Trujillo is now halfway through his five-year plan to revive Telstra,
and he's well on track, exceeding expectations yesterday with a 13 per cent
rise in half year profit.

But in a rare interview, Mr Trujillo refused to douse speculation that he
might soon be hanging up on one of Australia's toughest corporate hotseats
to seek new lucrative challenges in the US or Europe.

The Telstra chief executive also defended his $12 million pay deal, and
expressed dismay at being branded one of the "Three Amigos" - a reference to
the hard-headed management team he brought with him from the United States.

Peter Ryan: Sol Trujillo, you've just posted a better than expected profit
from Telstra, but how much more work do you have to do to finish the job?

Sol Trujillo: Well Peter, we do have a lot more work to do. We laid out a
five-year transformation plan, we're little over two years into it, but we
have more to do.

PR: As you said, you're halfway through that five-year plan, but will you be
around to see the final turnaround of Telstra, no matter how long it takes?

ST: Well Peter, what I committed to the board was that we were going to do a
transformation, we were going to do it well, we were going to do it as
quickly as we can, and as you can see, we're basically ahead of plan on what
we said we were going to do.

PR: There has been speculation that you might be getting ready to move onto
the next challenge, can you rule that out?

ST: Peter, life is full of surprises. I can't rule anything out because, you
know, we're always subject to our families, to our health, and to a lot of
other externalities that you can't control.

PR: But surely there must have been times over the last couple of years when
you've felt like calling it quits, given the tensions with the previous
government, in particular, the former prime minister and his communications
minister, Helen Coonan?

ST: You know, that's not the case at all. When I make commitments, I live up
to them, I think about getting the job done.

PR: What about the new Government? Is there a thawing of relations between
the Rudd Government and Telstra?

ST: Well, the Rudd Government is brand new, so I don't know what there is to
thaw or not. But we're trying to work very collaboratively with the Rudd
Government.

PR: But are you feeling more optimistic and positive about those Government
relations than you might have been before the election?

ST: Well Peter, I don't think that way. I just think about what's required,
what it's going to take to get things done, and how we can be inventive,
creative and look for outcomes.

PR: You took home around $12 million last year, something shareholders
didn't seem too happy about at last year's shareholders meeting. Did you
every consider taking a pay freeze or even a pay cut, given the view of
investors?

ST: My base pay has not changed. I came here almost three years ago in July,
and the base pay hasn't changed.

PR: As you'd be aware, Kevin Rudd is making politicians take a pay cut, why
not executives?

ST: Well, executives work in a commercial environment, executives work in a
contract-based environment, they're not elected officials, they work for
shareholders, and shareholders like paying for performance. And if I don't
perform, the compensation that I get, there's a lot of my compensation at
risk. If I'm just guaranteed a salary, whether I do well or not, that's not
the environment most shareholders like.

PR: Obviously before your time, a lot of Australians bought T2 shares at
$7.40 a share. They're still underwater. Can you provide any hope on when
those investors might break even?

ST: I cannot predict share price. I can't comment on share price performance
at any moment in time, but I can tell you that we have a plan, and those who
invested in T3 while I've been here, so far, have done very well.

PR: Well, just on a personal note, during your time here in Australia, there
have been constant references to your American-Hispanic heritage, such as
"The Three Amigos". I'm wondering if those references upset or disappointed
you in any way?

ST: Well, I think they're unique. I don't think there would be references
made like that in most other countries, and I've worked around the world.

PR: But did you think those comments went against what might be your
personal standards, or what the standards might be in the United States?

ST: Well, they clearly are not the same standards as in the US or Europe.
You know, I've lived in France or the UK, but they are what they are here,
and you know, my view is that people should be judged on who they are, not
where they come from.