I dont think that will happen, Telstra stated we will "continue to maintain a close relationship with the business", and assume a non-compete.
Apart from that, i think he is more useful at 'big picture tech vision', not specific to Telco, i dont think there would be much in it for us.
But it is good news for us, there is no downside to there will be a lot of experienced people looking for new opportunities, not just high level people either. We need to find the right ones though, and it could help that our CEO just came from Telstra.