New CTO to Join Aussie Broadband in October

Aussie Broadband is poised for a significant leadership change as co-founder and current Chief Technology Officer (CTO) John Reisinger prepares to retire at the end of October. Reisinger, who has been instrumental in the company’s growth, will be succeeded by Brad Parker, the Chief Infrastructure Engineering Officer. Parker’s new role as CTO will commence on October 31, marking a new phase in the company’s strategic evolution.

Phillip Britt, the group managing director and also a co-founder of Aussie Broadband, praised Reisinger’s contributions over the past two decades. Under Reisinger’s leadership, the company transformed from a small startup operating out of a lounge room to an ASX-listed powerhouse with impressive financial results. For FY24, Aussie Broadband achieved a revenue of $999.7 million, reflecting a robust 27 percent increase year-on-year. The company's net profit after tax also grew significantly, reaching $26.4 million, a 21.7 percent rise from the previous year. Additionally, the number of broadband connections expanded by 14 percent, reaching a total of 684,299.

Aussie Broadband has recently bolstered its position in the enterprise sector with several notable contracts. In April, the company won a major deal with Bunnings Warehouse to provide nationwide connectivity across 350 sites. Other significant contracts include network infrastructure work for Hitachi Construction, communication system projects with Austin Health and Mercy Health, and collaborations with Pedders Suspension and Brakes, Grill'd, and United Petroleum.

Despite these achievements, the company faces challenges related to its recent loss of wholesale customer Origin Energy. As a result, Aussie Broadband is undergoing organizational restructuring aimed at enhancing efficiency. This process involves streamlining the organizational structure, including a reduction in headcount, to address the changes brought on by the departure of Origin Energy. CFO Andy Giles Knopp noted that the restructuring is part of a broader focus on operational efficiencies and right-sizing the company post-Origin transition.

Aussie Broadband is preparing for a major leadership shift as co-founder and Chief Technology Officer (CTO) John Reisinger announces his retirement, effective October 31. Reisinger, a pivotal figure in the company's success, will be succeeded by Brad Parker, currently the Chief Infrastructure Engineering Officer. Parker’s promotion to CTO represents a key development in the company’s ongoing strategic transformation.

Phillip Britt, the group managing director and fellow co-founder of Aussie Broadband, commended Reisinger’s contributions over the past 20 years. Under Reisinger’s leadership, the company has evolved from a modest startup operating out of a lounge room to an ASX-listed enterprise with impressive financial metrics. For the fiscal year 2024 (FY24), Aussie Broadband reported revenue of $999.7 million, marking a robust 27 percent increase from the previous year. The company’s net profit after tax also saw a significant rise, reaching $26.4 million, a 21.7 percent increase. Additionally, broadband connections grew by 14 percent, totaling 684,299.

In recent months, Aussie Broadband has strengthened its position in the enterprise sector through several high-profile contracts. Notably, in April, the company secured a major contract with Bunnings Warehouse to provide nationwide connectivity across 350 locations. Other notable contracts include network infrastructure projects with Hitachi Construction, communication systems work for Austin Health and Mercy Health, and collaborations with Pedders Suspension and Brakes, Grill'd, and United Petroleum.

However, the company faces challenges due to the loss of wholesale customer Origin Energy. In response, Aussie Broadband is implementing an organizational restructuring plan designed to improve efficiency. This restructuring includes streamlining the organizational structure and reducing headcount to adapt to the changes following Origin Energy’s departure. CFO Andy Giles Knopp highlighted that the restructuring is part of a broader effort to focus on operational efficiencies and adjust the company’s size post-Origin transition. The transition of Origin Energy’s 130,000 broadband customers to Superloop services is expected to be completed by October. The restructuring plan involves managing direct offboarding costs, partially offset by margins from existing services, and addressing an additional $12 million in costs over FY25.