SYDNEY, AUSTRALIA: Vonex Limited (ASX: VN8), a telecommunications service provider selling mobile, internet, traditional fixed lines, and hosted PBX and VoIP services predominately to the small to medium enterprise (SME) customer under the Vonex brand, today announced that Matt Fahey has chosen to step down as Chief Executive Officer of the Company effective immediately. He will also step down as a Director of the Company immediately.
Fahey has been with the Company since before its listing and guided the team through some very successful acquisitions. He has more recently assisted the Board in dealing with its near-term challenges with internal reporting and setting the appropriate cost base for the business.
The Board has appointed telco industry veteran Ian Porter as the Company’s new Chief Executive Officer, effective from today. Porter has over 30 years of experience in the telco industry, spanning operations, sales and creation of entirely new businesses. He was previously the Chief Operations Officer of iseek Pty Ltd, a data centre and cloud services provider.
Stephe Wilks, Chair of Vonex, said: “We are delighted that we have secured Ian’s services as CEO of Vonex. His wide-ranging skill set will very much assist the Company during this period of consolidation of the recent acquisitions, and capitalising on those and the established business, to set up a period of sustained and sustainable growth. With his extensive telco background, he is exceptionally well set up for success in the role. We are particularly pleased that Ian has chosen to forgo a considerable part of his nominal cash salary to secure an equity participation arrangement in the Company. I and the Board look forward to working with Ian to ensure Vonex continues to grow and deliver great outcomes for all its stakeholders.”
Porter said: “I am excited to join Vonex, a telecommunications innovator that provides customised solutions for fast growing businesses. I see tremendous potential for Vonex to leverage its cloud-based phone systems, Microsoft Teams integration and line sharing products to deliver reliable telco solutions for its customers. I look forward to working with the Vonex team and leading the Company through its next stage of growth.”
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