Former NBN exec Paul Tyler appointed as new Superloop CEO
12 August 2020, Written by David Simmons
Paul Tyler (pictured) has been named as the new CEO of cloud services connector Superloop (ASX: SLC), replacing current CEO Drew Kelton.
Tyler joins Superloop with more than 25 years' experience in senior leadership roles including his position as chief customer officer at NBN Co.
He was also the former group managing director at Telstra and president Asia Pacific and Japan at Nokia.
Superloop founder and non-executive chairman Bevan Slattery has welcomed Tyler to the position.
"I am delighted to have secured Paul as CEO," says Slattery.
"He is uniquely positioned to understand the challenges and opportunities that the National Broadband Network offers enterprises and service providers looking to leverage this once in a lifetime opportunity to transition away from traditional networks."
Current CEO Kelton commenced a succession plan in March 2020, with a view to completing the appointment of his replacement prior to the end of his existing contract and transition during the FY21 year.
Kelton will commence an orderly handover process with Tyler on 1 September, with the CEO change taking effect from 1 October 2020.
The outgoing CEO will stay on as an executive director of Superloop until March 2021, to focus on the company's international business. He will then transition to a non-executive director role thereafter.
"I would like to thank Drew for the significant progress he and the team have made in stabilising the Company, completing major infrastructure projects, integrating acquisitions and sharpening Superloop's focus," says Slattery.
"With this progress the Company now has a strong platform upon which to build its next wave of growth."
Superloop has been tracking well this year, announcing in July that it achieved revenue growth of 37 per cent to hit $107 million during FY20.
The company also achieved the midpoint of its EBITDA guidance at approximately $13.5 million according to unaudited guidance.
"Superloop is in a strong position to continue to achieve sustained growth and monetise its unique network assets, through traffic growth and operational leverage as business and working practices migrate towards cloud," Superloop said.
Shares in Superloop are down 0.46 per cent to $1.08 per share at 10:22am AEST.
Business News Australia
Author: David Simmons