SYDNEY, AUSTRALIA: Megaport Limited, the industry-leading Network as a Service platform, has appointed Michael Reid as the Company’s Chief Executive Officer, effective 15 May 2023.
Michael Reid joins Megaport from Cisco where he currently serves as Chief Revenue Officer for ThousandEyes, one of Cisco’s fastest growing SaaS businesses.
Mr Reid brings over 19 years of industry expertise and experience to Megaport Limited. During his time with ThousandEyes, Mr Reid transformed the organisation’s go-to-market efforts and helped grow ThousandEyes into the largest cloud, SaaS and internet visibility platform in the world.
In addition, Mr Reid expanded the team from 150 personnel to nearly 400, grew ARR by 2.4 times and extended the business into new regions across the globe.
Mr Reid is known for his passionate and transformative sales and global go-to-market leadership focusing on culture, people and execution. Prior to ThousandEyes, Mr Reid’s experience with Cisco includes serving as head of global sales for multiple Cisco acquisitions, leading sales for the northern region of Australia, and leading sales for the country’s largest financial services customers.
Bevan Slattery, interim CEO and Chairman of the Board, said, ‘We are thrilled to welcome Michael as the new CEO of Megaport. Michael is a proven technology growth leader with deep experience in developing and leading multiple global recurring revenue SaaS businesses. His expertise and drive will be pivotal to strengthening Megaport’s go-to-market strategy and product roadmap and leading the Company into its next stage of growth.”
Mr Reid holds a Degree in Aerospace Engineering from OUT and was CEO Magazine Sales Executive of the Year 2019. Mr Reid will initially commence his role in San Francisco where he is currently based, but will relocate to Brisbane by July 2023. The key terms of Mr Reid’s employment agreement are attached to this announcement. Further details of the remuneration paid to Mr Reid each year will be disclosed in the Company’s annual remuneration reports.
Mr Reid will succeed interim CEO Bevan Slattery, who will continue in his role as Chairman of the Board. The Company advises that it has signed an interim CEO appointment letter with Mr Slattery.
The Company also advises that Sean Cassidy is leaving the position of Chief Financial Officer, effective today. Ms Leticia Dorman will be appointed as interim Chief Financial Officer while the Company undertakes a global executive search.
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