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amaysim CEO Jumps Ship To Foxtel

Following a five-year stint, Amaysim CEO & MD, Julian Ogrin, has announced he’s moving to Foxtel, with Co-Founder and telco veteran, Peter O’Connell, taking over from July 1st.

Mr Ogrin will take an executive position at the newly merged Foxtel and Fox Sports entity, and follows over two years as amaysim CEO, including transition from a private to public company.

[Julian Ogrin]

With over twenty years experience, Mr O’Connell founded Amaysim in 2010, and served as Chairman until June 2015. Since then, O’Connell has remained Amaysim Non-Executive Director and a member of the Board Energy Committee.

O’Connell was also heavily involved in the formation of Optus and Australian Telecommunications reform.

Ogrin will remain an Amaysim shareholder, and asserts he has “great confidence” in the new management team.

[Peter O’Connell]

Amaysim claims O’Connell’s appointment comes amid an “increasingly competitive market”, with strategic growth, profitability and positive shareholder value a focus.

The telco is currently Australia’s fourth largest provider with over 1.1 million subscribers.

As previously reported, last year the telco expanded its electronics e-commerce store, which ChannelNews understands also sells grey-market imported products.

In February, Amaysim informed the market it would skip dividends. Following new product costs, the telco post a $2.37 million half-year net loss, versus an $8.3 million profit the year before.

The company’s subscriber numbers did soar, posting revenue of $249 million for the six months. Despite the lift, ARPU (average revenue per user) slipped 15% for the half, following added data inclusions.

Published in an ASX-statement, Amaysim has advised financials “stabilised” in the second half – FY18 net revenue is forecast to be between $573 million and $583 million.

Increased statutory earnings have also been flagged ($36 million – $39 million) versus $33.8 million post the previous year.

Mobile ARPU has also stablised in the second-half, with a slowdown in the rate of subscribers moving to lower price plans.

The telco affirms it has focused on cross-selling “higher ARPU broadband and energy to its significant mobile subscriber base”, with management “pleased” with progress in both verticals.

“The key focus in the coming months will be to execute on a number of tactical cross-sell initiatives and grow brand awareness as a multi-service provider,” Amaysim adds.

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