Deena Shiff will become head of Telstra Applications & Ventures Group on August 1 when she leaves her role as group managing director of Telstra Business after five years.

Australia-based phone operator Telstra will next month set up a corporate venturing unit to invest in broadband businesses.

Deena Shiff (pictured) will become head of Telstra Applications & Ventures Group on August 1 when she leaves her role as group managing director of Telstra Business after five years.

David Thodey, chief executive of Telstra, said: "As faster broadband becomes available to more Australians, we expect an explosion in innovation and the development of new locally developed media-rich applications.

"Telstra’s Applications…