Grist ends executive role with Amcom, remains as chair

Amcom Telecommunications Ltd's Tony Grist will step down from his executive capacity with the company but plans to remain chairman.

Below is the full announcement from Amcom:

Amcom Telecommunications Limited today announced chairman Tony Grist will become non-executive chairman.
As executive chairman Mr Grist, who co-founded the carrier in 1999 with Andrew Mclean, oversaw Amcom's transition from a small startup company through the rollout of 700 km of fibre optic infrastructure in 3 cities and the emergence of the profitable telecommunications business that it is today.
With that transition now complete and with all senior management positions filled it was an appropriate time to effect the planned Board change.
Mr Grist said he that he was pleased Amcom had been able to secure such a highly credentialed team to spearhead the long-term growth of the company.
"Amcom is now fully financed, profitable and paying a dividend," said Mr Grist.
"This steady financial position combined with the exceptional management team in place means Amcom is poised to continue strong earnings growth over the long-term," he said.
"With the dynamic changes in the telco market as a result of the Telstra restructure, Amcom is now more than ever well positioned as an infrastructure owner to succeed where those of its competitors whose businesses rely on access to Telstra s infrastructure are vulnerable.
"I remain very committed to the success of Amcom and look forward to a continued active association as a non-executive director."
The change is effective immediately.
The Company simultaneously announced that Mr Eddy Lee, current CEO, has renewed his contract for another two years.
Eddy has overseen the successful commercialization of the fibre division for enterprise, government and intercarrier services, and the building of the high end DSL broadband business over Amcom s own DSLAM and fibre backhaul infrastructure.