CFO World

Sangster joins amaysim board as mobile company lodges IPO

Mobile services provider hopes to raise $207.4m with its initial public offering

ADMA CEO, Jodie Sangster, has joined the board of directors at mobile service provider, amaysim, as part of a raft of executive changes being made as the company prepares for its initial public offering.

Sangster is one of two new independent non-executive directors to join the board, alongside Maria Martin, a 30-year veteran of accounting and business advisory services, risk and general management. Martin’s previous experience includes 15 years as a partner at PricewaterhouseCoopers.

Sangster joined ADMA as its CEO in July 2011 and relocated from the Direct Marketing Association in New York, where she was senior VP of education and global development. Her resume also includes work with the UK Direct Marketing Association across UK and European regulatory affairs, as well as a chief privacy and compliance officer at Acxiom.

Amaysim has also confirmed current chairman of SG Fleet and former CEO of Metcash, Andrew Reitzer, as non-executive chairman, while company CEO and MD, Julian Orign, has been appointed executive director.

Amaysim co-founder and chairman, Peter O’Connell, has also switched to a non-executive director’s role.

“I’m delighted to welcome Andrew, Jodie, Maria and Julian to the amaysim board,” said O’Connell. “They bring collective outstanding experience across telecommunication, retail, whole, marketing, technology and finance services sectors.

Co-founder and director, Rolf Hansen, added amaysim’s strong and dynamic culture has been key to its success to date.

“We’re excited that each of the new directors brings deep knowledge to enhance our capability to keep challenging norms, finding better solutions and championing innovation,” he said.

CMO Interview: How amaysim built its customer credentials as a challenger brand

The board were announced at the same time as amaysim lodged its IPO with ASIC on 23 June. The company is looking to raise $207 million based on a share price of $1.80, giving it a value of $298.4m and a share market capitalisation on listing of $317.1m. Its founders will retain a stake in the company.

Amaysim opened its doors in 2010 and has become one of Australia’s fastest-growing mobile service providers, chalking up a 93.2 per cent compound subscriber growth average for the past four years. Its service offering is based on the Optus 4G Plus network.

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