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Malone to temporarily step down from iiNet post

iiNet founder and CEO, Michael Malone, will be taking a six month sabbatical from the company that he started 20 years ago.
Written by Chris Duckett, Contributor

Leadership changes are afoot are Perth-based telco iiNet, as the founder, managing director, and CEO, Michael Malone, is set to leave the business for up to six months. In his stead, the company's chief financial officer, David Buckingham will take the helm.

"I founded this company 20 years ago and have never taken a substantial break," Malone said in a speech at iiNet's AGM. "I feel that this is a good time for me to recharge, re-energise and prepare for the next big round of growth."

"It will be strange not coming to iiNet each day for a while, but I am very excited for the future," he said.

Chairman of iiNet, Michael Smith said that Buckingham, who has been with the company for six years, would fill the role of acting CEO of the company.

The membership of the company's board is also receiving a shake up, with long term iiNet board member and former CEO of AAPT, and most recently Infrastructure NSW, Paul Board, vacating his non-excutive directorship to take on the role of CEO of Snowy Hydro. The second board casualty will be Internode founder Simon Hackett, who is set to leave the board due to taking up a position on the board of NBN Co.

Smith thanked Broad and Hackett for their service, and said that Hackett would leave his mark on NBN Co.

"We wish him the best and are excited by the influence he will no doubt bring to bear on the board of NBN Co at its most critical time," he said.

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