Amaysim co-founder Peter O'Connell will assume the role of chief executive and managing director following the departure of Julian Ogrin, who has joined the merged Foxtel and Fox Sports.
His departure follows continued erosion of the telco's share price, which today sat at 84c, down from a 2018 high of $2.10 in February and a lifetime high of $3.15 in January 2016.
As chief executive, Ogrin led Amaysim's expansion beyond its heritage as a mobile virtual network operator partnered with Optus and into a range of sectors, including home broadband, reselling devices online, and its $120 million acquisition in the energy sector.
O'Connell returns to day-to-day operations on 1 July after stepping down as executive chairman in 2015, having served as non-executive director since then.
“I’m delighted to take the CEO position and excited to lead this company,” O’Connell said. “I look forward to the challenges and opportunities of this role.”
O’Connell, a former commercial lawyer, joined e-commerce and telco entrepreneurs Rolf Hansen, Christian Magel, Thomas Enge and Andreas Perreiter to launch Amaysim in 2010.
O’Connell was also involved in the formation of Optus, where he served in executive roles and was part of its board. Amaysim is a wholesale customer of Optus.
“It has been a privilege to lead Amaysim during a pivotal period as we transformed from a
private to a publicly listed company and embarked on a diversification strategy,” Ogrin said.
“I have great confidence in Peter and Amaysim’s highly skilled management team and look forward to celebrating their success from the sidelines as a shareholder and keen supporter of the company, its people and its strategy.”
Ogrin joined amaysim in 2013 as chief commercial officer, later rising to managing director a year later and chief executive in 2015. He also worked in a number of executive roles with Digicel Papua New Guinea, Tele2 in Croatia, Meteor Mobile in Ireland, among others.
“I would like to thank Julian for his leadership and tremendous commitment to the company. Julian leaves a terrific legacy at amaysim and the Board wishes him all the best in his future endeavours,” Amaysim chairman Andrew Reitzer said.
“The appointment of Peter to CEO comes after consideration of the company’s strategic plans as well as the skills, experience and attributes we believe are necessary to carve out a strong future for amaysim in an increasingly competitive market, drive profitable growth across the group and build shareholder value.”