The founder and chairman of Superloop (ASX: SLC), Bevan Slattery, has announced he will step down from his role at the company, to be replaced by the co-founder and former CEO of Amaysim Peter O’Connell.
Slattery will retire at the conclusion of the company’s forthcoming AGM on 24 November after stepping back in as chair from the beginning of the pandemic in March last year.
The serial entrepreneur, who also founded tech-focused companies SUB.CO, Cloudscene, Biopixel, Megaport (ASX: MP1), Subpartners, NEXTDC (ASX: NXT), PIPE Networks and iSeek, said he was delighted to welcome O’Connell into the role.
“Peter is an entrepreneur in his own right, co-founding Amaysim, and has deep experience in branding, marketing, legal, regulatory, corporate governance and culture over his 30 years in our industry,” Slattery said.
“Having the opportunity to pick when and how you take a step back from a business you founded is always an important decision. As with previous listed companies, I don’t think I’ve been more sure than I am now.
“Since stepping in as Chair from the beginning of the pandemic in March last year, we have removed significant cost from the business, put in place a first-class management team led by our new CEO Paul Tyler, recapitalised the business, delivered on guidance given two years in a row, and made a transformational acquisition with Exetel.”
O’Connell said he was joining Superloop during a “tremendously exciting time” for the company.
“Under Bevan's chairmanship and the efforts of the new management team led by Paul Tyler, Superloop has built a reputation for strong customer growth across all segments, built on its world-class digital infrastructure, and an executive team focused on quality execution,” O’Connell said.
"Superloop is now positioned very well to accelerate customer growth and asset utilisation. I look forward to working with my fellow directors, the executive team and the employees of Superloop to make a real difference in the Australian telco market.”
Despite leaving the company, Slattery will remain a major shareholder in Superloop. In a LinkedIn post, Slattery said he will now focus on other projects, including his Great Barrier Reef project - Biopixel.
O'Connell was most recently CEO of Amaysim, which he co-founded in 2010. He previously held senior executive and board roles at Optus Communications, BellSouth, Eircom (Ireland’s national carrier) and Meteor (an Irish mobile operator).
He is also the founder of Hargrave Consultants, an advisory firm for the technology and telecommunications sector, and was previously a partner at major Australian law firms Minter Ellison and Gilbert & Tobin.
O'Connell was a member of the team responsible for the formation of Optus, has served on a number of boards for private and public companies, and is also the Chair of Australian fintech company, Padua.
"Peter brings invaluable experience and insights to Superloop's ambitions around delivering digital-first services on the infrastructure we have built and opened to consumer, business and wholesale customers,” Superloop CEO Paul Tyler said.
"In particular, his experience in the consumer telco space balances the board's existing strong experience in the business and wholesale markets, which is further emphasised with our migration of Exetel's customers to the Superloop network ahead of schedule.”
Shares in SLC are down 1 per cent to $1 per share at 3.01pm AEST.
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