awarded a $220m government contract amidst claims of "lack of transparency". Shane Solomon left Telstra in Nov 2016. Telstra Health Acquisitions National Broadband Network (NBN) In December 2014, Telstra signed an agreement with the federal government's A.C.N. 86 136 533 741 (NBN Co) Limited. This agreement is said to retain the $11b value for Telstra of the original agreement from October 2011 and will see the company progressively sell its copper and Hybrid_fiber-coaxial networks to A.C.N. 86 136 533 741 (NBN Co) Limited. Andrew Penn era (2015–2022) On 19 February 2015, Telstra announced that CEO David Thodey would retire on 1 May 2015 and be replaced by successor Andy Penn. Penn indicated new focus on growth in international markets, however this strategy experienced a setback with the failure of a joint venture to build a mobile phone network in the Philippines. On 14 March 2016, Telstra ended their talks between the company and the Philippine-based conglomerate San Miguel Corporation for a planned joint telecommunications venture in the Philippines due to several factors. In 2016, Telstra suffered a series of network outages for which the company apologised. In December of that year, Telstra announced the appointment of Robyn Denholm as its new COO, following the departure of Kate McKenzie who left after a series of network outages. In December, Telstra announced the hire of a new CTO to replace the predecessor who left amongst allegations of CV fraud. In 2016, the government raised the possibility that Telstra's regional mobile network may be forced to be opened to competitor' use under a roaming scheme. A prospect strongly being fought by Telstra. In February 2017, Telstra announced a that revenue had dropped 3.5%, Net Profit After Tax had dropped by over 14%. As a result, Telstra's share price dropped by 4.5% on the same day. In August 2017, Telstra announced that it would cut its dividend, leading to a drop in share price by over 10% in a single day to reach a 5-year low. Andy Penn's CEO tenure had been severely tarnished after $28.5b in Telstra's market value had been destroyed under his leadership. T22 Strategy In May 2018, Telstra issued a profit warning which lead to a decline in the company's share price of 4% on that day. In the weeks after the announcement, the share price continued to drop to a seven-year low, amidst speculation that the company may be