Sky and Space Global Ltd (ASX:SAS, “Sky and Space Global” or ‘the Company”) is pleased to announce Mr Michael Malone has been appointed as Chairman of Sky and Space Global, effective 1 November 2018.
A highly regarded board member with over 25 years’ experience in the telco and technology industries, Mr Malone has previously held multiple Director and Chairman positions at both listed and unlisted companies. He currently holds Board roles at multiple large companies including SpeedCast (ASX:SDA), Superloop (ASX: SLC), Diamond Cyber Pty Ltd, Seven West Media (ASX: SWM) and nbnco.
In 1993, Mr Malone founded iiNet, Western Australia’s first internet service provider and grew the company to service over one million households, returning revenues and a market capitalisation in excess of $1 billion, prior to being acquired by TPG in 2015 for $1.56 billion. He also founded .auDA, the industry body for all .au domain names, Austism West, a charity supporting families of children on the spectrum, and Diamond Cyber, a company established to provide military grade information security to the private sector, that also continues to deliver exponential growth and value to its shareholders.
Mr Malone has a highly credible corporate resume, broad experience, expertise and extensive knowledge of the telco sector that will be invaluable to the Board and leadership team in its execution of SAS’s growth strategy. He is recognised with a raft of industry accolades, including Australian Entrepreneur of the Year, the First Among Equals in the 40 under 40, and CEO of the Year in the Australian Telecom’s Industry Awards.
The appointment of Michael Malone signals the completion of Brett Mitchell’s tenure as Non-Executive Director at SAS. Mr Mitchell remains committed to the Company’s growth and will remain the Board’s lead corporate advisor, through his firm Chieftain Securities. The Board would like to thank Mr Mitchell for his key role in the financing, corporate development and growth of SAS over the past 3 years, for bringing the Company to the ASX and for his ongoing commitment to the successes of the Company.
Mr Peter Wall, the incumbent Chairman, will transition to the role of Non-Executive Director.
Commenting on his appointment, Mr. Michael Malone, Chairman said:
“I am delighted to join the Sky and Space team and am excited to be playing an active role in this sector. We can reach everyone, everywhere, with voice and data services There is a fantastic opportunity here to become a world renowned nano-satellite service provider”
Sky and Space Global’s Managing Director and CEO, Mr. Meir Moalem said:
“Michael Malone has a lot of experience in the Australian Telco sector. We think his appointment will be a big plus for Australian investors and put us on the international map as well. In 2019, we will launch our constellation of 20 satellites that will give us serious global coverage. That is what this company is all about.”
The remuneration package agreed with Mr Malone, which remains in part subject to shareholder and ASX approval, is set out in the Annexure to this announcement.
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