THE PROPERTY DEVELOPMENT REVIEW
that occurred in a three-year period between 2011-2014. After a months-long sabbatical, Michael made the decision to step-down as Chief Executive Officer of iiNet in 2014, selling down his holdings in the company over a number of years before and after its takeover by rival TPG in 2015. Following his success with iiNet, Michael has held a number of executive and board positions, including Co-Founder and Chairman of Diamond Cyber Security (subsequently sold to CyberCX), Chairman of SuperLoop, Director of NBNCO, Director of WiseTech Global, Director of Seven West Media & Non-Executive Director of Healthengine amongst others. He is also a prominent private investor through both his family office, Phi Capital, as well as via funds including Ten13, Ellerston and JAADE. In this rare and exclusive interview, Michael details his extraordinary personal and professional successes, the journey of iiNet, his unique philosophy and approach to business, the evolution in Western Australia’s start- up scene and what he considers his most seminal achievements.
that enabled customers to connect to the web. By 1995, iiNet had expanded into Perth’s CBD and began formally recruiting its first employees, with the company becoming synonymous for a number of internal innovations including being the first company in Australia to utilise Net Promoter Scores (NPS), insisting on staff having backgrounds or experiences in hospitality to drive strong customer service, linking staff bonuses to feedback / survey results as well as establishing call centres in predominantly English- speaking countries such as Australia, New Zealand & South Africa. As the business expanded throughout the 1990’s, its innovative culture saw it expand its offerings to include ‘triple- play’ services (broadband, telephony, video) whilst Michael borrowed heavily to fund the firm’s growth until it’s listing on the ASX in 1999. Over the course of the ensuing decade-and-a-half, iiNet grew to become Australia’s second largest internet service provider, acquiring more than fifty companies on its way to generating over $1bn in annual revenue such as New Zealand’s iHug in 2003 ($71.5m), OzEmail in 2005 ($100m) in addition to more than $225m in deals
April / May 2024 – 7
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