Turmoil at the top of Pacific Internet

Stuart Corner
Sunday, 02 September 2007 13:01

IT People - People

The CEO of Asia Netcom, Bill Barney, was named chairman of Singapore headquartered regional ISP, Pacific Internet on 27 August and won August 30, was given the job of interim CEO following the departure of CEO, Mr Phey Teck Moh.

The owner of Asia Netcom, Connect Holdings, earlier this year became Pacific Internet's largest shareholder and how has a controlling 87.6 percent stake. Barney is also a nominee director of Connect. Barney joined Asia Netcom in 2002 and before that was Asia Pacific president of MCI WorldCom.

The board announced on 30 August that it had accepted Phey Teck Moh's decision to step down as president and CEO of Pacific Internet and as a director. The company said: "this departure was mutually agreed between Teck Moh and the board of directors of the company," but gave no reason for his departure. Saying only that "the board appreciates and recognises the effort Teck Moh has put into Pacific Internet and wishes him well in his future endeavours.

Teck Moh said: "It has been a privilege to serve Pacific Internet. ...I will always be proud of my association with Pacific Internet. This action is taken after due consideration."

• Pacific Internet reports Q2 results
Pacific Internet has reported second quarter 2007 results for the quarter ended 30 June. Revenue increased 10.0 percent to $US34.33 million and net income rose 3.0 percent to $US0.69 million.
Corporate business was the main growth engine, contributing 82.5 percent of total sales. The corporate customer base stood at 125,000 customers at 30 June. Revenues from outside of Singapore grew to 68.0 percent of the total.

The then president and CEO, Mr Phey Teck-Moh, said, "During this quarter, we rolled out more SME-targeted services such as PacNet @Office, Global Security-in-the-Cloud, Global Internet Virtual Private Network (VPN) and PacNet Vocal. All these services help our SME customers be more efficient, communicate better and to have more secure networks, among many other benefits."