iiNet Founder Michael Malone Quitting After 21 Years

Josh Taylor at ZDNet:

Michael Malone has told iiNet staff this morning that he will leave the company he founded in his garage in Perth 21 years ago.

Malone, who spent the last four months on a sabbatical, had said that he would return to the CEO role when he returned, but told staff this morning that he had made the “difficult decision” to leave iiNet.

Big changes afoot at iiNet. First Simon Hackett, then John Lindsay, and now Michael Malone.

According to iiNet’s press release, “David Buckingham will continue to act in the role of iiNet Chief Executive Officer. In the interests of sound corporate governance, the Board will be conducting an international search for a new CEO.”

iiNet’s Chairman Michael Smith said, “The board will ensure that the next iiNet CEO is the best available. If that turns out to be David, we will be delighted.”

Fair enough, but I wonder: if Michael Malone has been on sabbatical since November last year, why start the CEO hunt now? Couldn’t this have been done in private during the lead-up to this announcement?

In any case, whoever they pick for a new CEO, I only have one request: please don’t sell the company to TPG.

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