Malone quits as iiNet CEO
Michael Malone last week resigned as CEO and board director of ISP iiNet, in order to focus on other projects.
Malone made the decision to leave the company while still on a sabbatical that began in November last year.
In a statement announcing his resignation, Malone said that after devoting 20+ years to leading iiNet, he now wants to spend his time on other tasks.
“During this time away from the business, it became clear to me leading iiNet and its passionate staff requires 24x7 commitment, energy and enthusiasm. I have been able to achieve that for over 20 years but have come to the point where I want to dedicate my time to other opportunities,” Malone said.
The iiNet board will conduct an international search for a new CEO - which may end up being the current acting CEO, David Buckingham, Smith said.
The company will appoint a search firm to assist in finding a new CEO and hopes to have found a new chief executive before June 30.
Buckingham will continue as acting CEO until a replacement is found or he is named CEO proper.
iiNet chairman Michael Smith praised the outgoing CEO.
“Michael is a legend and a telecommunications visionary; he has been the foundation of iiNet’s success. We are committed to ensuring his legacy and story lives on through a continued commitment to service excellence, challenging the status quo, thinking for ourselves and growing,” Smith said.
Malone said moving on from iiNet would be difficult. “It’s never easy to say goodbye, but this is an ideal time to leave - iiNet is in the best financial shape it has ever been and has a strong growth plan for future success.
“I have taken great pride in the company that we have built. I know iiNet management and staff have the ability, energy and vision to keep building the business and providing our customers with amazing service. It will be incredibly hard for me to move on but I plan to keep a strong relationship with the company and all of its staff, many of whom are close friends,” he said.
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