Telstra chief executive David Thodey has stepped down from the post after more than five years in the job.

He will be replaced by his chief financial officer Andy Penn from May 1, who will be based in Melbourne.

Telstra chief executive David Thodey and chief financial officer Andrew Penn. Credit:Photo: Cole Bennetts

The company will provide more information at a media briefing with both executives at 10.30am on Friday.

Mr Penn currently runs Telstra's Asian strategy and was previously the chief executive of AXA Asia Pacific.