iiNet founder Michael Malone joins Yatango board
Ahead of its planned launch on the Australian Securities Exchange (ASX), mobile services and online shopping company Yatango has appointed iiNet founder Michael Malone to its board.
Yatango, a mobile virtual network operator that resells Optus using a build-your-own-mobile plan model, announced in March that it would launch on the ASX through a reverse takeover of Latitude Consolidated Limited.
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The company has expanded its platform into online shopping, and has plans to expand into financial services following the ASX debut, and on Tuesday announced the company would appoint three new board members subject to shareholder approval.
Joining the board will be iiNet founder and former CEO Michael Malone, Virgin Mobile UK founder and EE's ex-CEO Tom Alexander, and ActewAGL founder John Mackay.
Mackay will be the non-executive chairman of Yatango, while Malone and Alexander will serve as non-executive directors.
"We are delighted to have such high profile and successful directors join our board," Yatango's founder and CEO Andy Taylor said in a statement.
Malone, who quit iiNet a little over a year ago, has also joined the board of Hong Kong-based telco SpeedCast, and is currently the chairman of Perth-based enterprise IT security firm Diamond Cyber. He said that Yatango's business model is "dynamic and innovative" and something he was looking forward to being a part of.
Alexander said that Yatango has the ability to replicate Virgin Mobile's success.
"Joining a business at this critical stage of growth and expansion provides an exciting opportunity to add strategic value and experience having built and led a successful global brand and business from the ground up believe Yatango has the opportunity to cement itself as a leading player in a global market and I am confident that with the high calibre and passionate team in place, we can execute the vision."
The ASX listing is planned for June 2015.