iiNet CEO Buckingham Ousted
A Fairfax report said four sources had confirmed that Buckingham had left the company on Friday, saying he had been let go. The move follows the $1.56 billion acquisition of iiNet by TPG Telecom.
IiNet chair Michael Smith, who is leaving in September along with board member David Grant, previously told Fairfax that he would be strongly encouraging TPG chief David Teoh to keepDavid Buckingham on board.
“David Buckingham has been doing great things as chief executive, and the fact that he’s got such deep strategic financial capacities to go with his leadership means I would be strongly encouraging David Teoh to secure his talents and keep him,” Smith said.
Four of iiNet’s directors – Peter James, Louise McCann, Patrick O’Sullivan and Paul McCarney – have recently left under terms of iiNet’s acquisition by TPG.