Changes are happening - please bear with us while we update our site.

Changes are happening - please bear with us while we update our site. Click here to give us your advice and feedback.

Management Mix Up: Vocus Group Ltd Shuffles The Deck

Vocus Group Ltd (ASX: VOC), the owner of telecommunications brands like Dodo, iPrimus, Commander and more, today announced a chop and change of its sprawling organisation.

Vocus Group Ltd (ASX: VOC), the owner of telecommunications brands like Dodo, iPrimus, Commander and more, today announced a chop and change of its sprawling organisation.

Vocus, a $2 billion company, said today that it would reshuffle the deck and streamline its divisional structure.

The Enterprise & Wholesale segment would split into two, therefore, resulting in four reporting segments:

1. Enterprise & Government, led by Scott Carter

2. Wholesale & International, led by Michael Simmons

Mr Simmons lead Vocus’ Wholesale operations since 2016 and was previously CEO of SP Telemedia, now part of Vocus competitor TPG Telecom Ltd (ASX: TPM).

3. Consumer, led by Sandra de Castro

Ms de Castro previously held senior roles ranging from sales to marketing and strategy at companies such as AGL Energy Ltd (ASX: AGL) and National Australia Bank Ltd. (ASX: NAB).

“We are very pleased to welcome Sandra to the Vocus team,” Vocus CEO Geoff Horth said. “Sandra’s credentials and success in innovation and digital transformation brings invaluable experience to our Executive Team, and will help to drive the next phase of growth and customer centricity in our consumer division.”

4. New Zealand

Who cares?

Vocus’ changes form part of its ‘transformation program’.

In the words of the company, the changes are, “intended to allow sufficient senior executive focus on the opportunities within these segments.”

Since reaching a high of over $9 per share in 2016, the Vocus share price has fallen to around $3.21 today, according to Google Finance. That’s despite the company making a number of large-scale acquisitions and mergers, such as NextGen Networks, Amcom Telecommunications and M2 Group.

Following the fallout in its shares, rumours began to emerge that various parts of Vocus’ company were up for sale.

In August, Vocus announced that it would conduct a review of its “non-core Australian assets for potential divestment options”.

The company subsequently put the New Zealand business, its Australian Data Centres and other non-core local assets, up for sale.

The company said the divestments would, “materially reduce Group debt levels, leverage ratio and provide strategic optionality.”

Following its October update, analysts from Morgan Stanley and Shaw moved to upgrade their valuations, according to Dow Jones Newswires.

According to data gathered by The Wall Street Journal, the average price target of Vocus shares is $2.73 with a “hold” rating. 

Keep Reading

$50,000 per year in passive income from shares? Yes, please!

With interest rates UP, now could be one of the best times to start earning passive income from a portfolio. Imagine earning 4%, 5% — or more — in dividend passive income from the best shares, LICs, or ETFs… it’s like magic.

So how do the best investors do it?

Chief Investment Officer Owen Rask has just released his brand new passive income report. Owen has outlined 10 of his favourite ETFs and shares to watch, his rules for passive income investing, why he would buy ETFs before LICs and more.

You can INSTANTLY access Owen’s report for FREE by CLICKING HERE NOW and creating a 100% FREE Rask Account.

(Psst. By creating a free Rask account, you’ll also get access to 15+ online courses, 1,000+ podcasts, invites to events, a weekly value investing newsletter and more!)

Unsubscribe anytime. Read our TermsFinancial Services GuidePrivacy Policy. We’ll never sell your email address. Our company is Australian owned.

Information warning: The information on this website is published by The Rask Group Pty Ltd (ABN: 36 622 810 995) is limited to factual information or (at most) general financial advice only. That means, the information and advice does not take into account your objectives, financial situation or needs. It is not specific to you, your needs, goals or objectives. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. Please read our Terms and Conditions and Financial Services Guide before using this website. The Rask Group Pty Ltd is a Corporate Authorised Representative (#1280930) of AFSL #383169.

5%+ in passive income

Owen Rask’s investing report available

With bond ETFs like ASX:IAF and the S&P 500 riding high, now could be one of the best times to start earning passive income from a portfolio of shares and ETFs.

In this free analyst report, our Chief Investment Officer, Owen Rask, names 10 ASX stocks and ETFs to watch.

Unsubscribe anytime. Read our TermsFinancial Services GuidePrivacy Policy. We’ll never sell your email address. Our company is Australian owned.

Skip to content