Michael Malone has resigned from his post as iiNet chief executive officer (CEO) and board director.
Malone made the decision to leave the company during extended leave which commenced in mid-November last year and was predicted to last for up to six months.
Having co-founded iiNet in 1993 alongside Michael O’Reilly, Malone said his time away from the office has allowed him to pursue his passions and meet inspirational individuals, a path he wishes to continue on.
“Over the past three months I’ve had the opportunity to pursue activities I’m passionate about, and taken time out to meet many inspirational individuals from across the globe,” Malone said.
“During this time away from the business, it became clear to me leading iiNet and its staff requires 24x7 commitment, energy and enthusiasm. I have been able to achieve that for over 20 years but have come to the point where I want to dedicate my time to other opportunities.”
Malone claims iiNet is in the best financial shape it has ever been, making this an ideal time to depart.
He said the ISP has a strong growth plan, and places his faith in its management and staff to drive the business.
iiNet chairman, Michael Smith, labelled Malone a “telecommunications visionary”.
David Buckingham will continue to fill in as iiNet CEO. According to a statement, the board will be conducting an international search for a new CEO. Buckingham remains in the mix.
iiNet will appoint a search firm in the next few days. It aims to conclude the hunt before June 30.