iiNet founder Michael Malone steps down from Superloop

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iiNet founder Michael Malone steps down from Superloop

iiNet founder Michael Malone has stepped down as chairman of network infrastructure operator Superloop after close to three years in the role.

He’ll be replaced by Superloop founder Bevan Slattery, who will resume the role as non-executive chairman.

Malone founded Perth-based ISP iiNet in 1993 and led the company as chief executive until 2014, when it was acquired by TPG. He joined Superloop’s board of directors in April 2015, and was appointed chairman two years later.

“Michael brought to Superloop’s board substantial telecommunications and technology industry experience. On behalf of the board I’d like to thank Michael for his commitment and counsel and wish him well for his future endeavours.”

Slattery has been a non-executive director role at Superloop since handing over the chief executive role to current CEO Drew Kelton in July 2018. The serial entrepreneur has been busy in that time, launching independent cloud index Cloudscene in 2016, and submarine cable development group SUB.CO in 2019.

Superloop also announced the appointment of Stephanie Lai as an independent director and chair of the company’s audit committee.

“Stephanie brings significant accounting, M&A, capital markets and governance credentials to the board,” said Slattery. “She has over 20 years’ experience as a chartered accountant, is a former M&A partner of KPMG and Deloitte and is an experience listed company non-executive director.”

Slattery added that the past year was dedicated to completing Superloop’s initial regional network build, including consolidating its prior acquisitions. The company announced its decision to exit its cloud managed services segment in August 2019 due to declining performance, which was formed when Superloop bought wireless IT provider BigAir in 2016.

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