M2 Telecom CEO Vaughan Bowen to step aside

Stuart Corner
Monday, 29 August 2011 14:27

IT Industry - Listed Tech

Vaughan Bowen who has served as CEO of telecoms service provider M2 Telecommunications since its inception in 1999 is to relinquish his role to COO Geoff Horth and become an executive director of the company responsible, among other thing, for mergers and acquisitions.

The changeover will take place after the company's AGM on 28 October and follows release today of record revenue and earnings results for the year to 30 June 2011.

Horth has been with M2 for two years and before joining the company held several executive roles in the Australian telecommunications industry over more than 20 years. He joined the company with its acquisition of parts of Commander Communications where he was group general manager.

In his new role as executive director Bowen will be responsible for "pursuing merger and acquisition opportunities, maintaining and developing key M2 stakeholder relationships and serving as advisor to the CEO on group-wide strategy."

M2 chairman, Craig Farrow stated; "Vaughan has proven himself to be a simply outstanding CEO. In his 12 years in the role, commencing at the time of the company's incorporation in December 1999, M2 has grown from a fledgling start-up to a large, highly profitable and respected member of the Australian telecommunications industry'¦Since its listing on the ASX almost seven years ago, Vaughan has steered M2 from a market capitalisation of $14m to more than $360m as of last market close, an increase of over 2500 percent." The company has achieved a decade of consist growth in earnings.