In a surprise announcement today, Packet One Networks(P1) said that its current Chief Executive Officer(CEO), Michael Lai will be leaving the company for personal reasons. Green Packet Berhad (GPB) Group founder and CEO, CC Puan will be taking over the CEO role starting 1 July 2013.
“I had the great pleasure to carry out the first part of P1, CC Puan and the Board’s vision to see P1 take its place as one of Malaysia’s leading 4G telco serving converged fixed and wireless broadband, and voice services with next generation technology. I pass the baton now to CC to assume the P1 CEO role. I believe he will be the best person to see P1 through to its ultimate goal,” said Michael(picture) in a media statement.
P1 burst into the telco scene in 2008 with Michael at its helm championing ‘broadband for all’ via a more accessible broadband solution that is instant plug-and-play and more affordable. Since then, P1 had progressed to over half a million subscribers and notably, reached positive EBITDA since the last quarter of 2011; the fastest telco to do so in Malaysia’s history. P1 had also secured a total of 50MHz of 4G spectrum on the 2.6GHz and 2.3GHz spectrum bands to pave the way for its full 4G TD-LTE transformation.
Michael is highly respected for his contributions to the information and communications technology industry both locally and abroad. He made P1 the Southeast Asia showcase for 4G deployments and secured P1 representation on high profile international bodies such as the Global WiMAX Forum Board and the Global TD-LTE Initiative Steering Committee.
CC said, “I thank Michael for his contribution. It will take awhile for us to get used to Michael not being the face of P1 anymore.”
The company said that CC had assumed the acting COO role since January this year to place focus on P1 and get deeply involved in its operations. He had earlier this year, launched a business transformation program to enable P1 to compete and operate more efficiently and effectively. More than 100 people were laid off as part of the program.
He said, “As founder of the business, I’m extra committed to see P1 succeed and will personally assume the P1 CEO role to enable me to directly shape P1’s future and unlock its full potential.”
CC is Group Managing Director and CEO of Green Packet Group which comprise of two business pillars, namely, as 4G device and solutions vendor to global telcos; and service operator pillar via P1. He founded Green Packet in the year 2000 in Silicon Valley, USA and in 2007, won the 2.3GHz spectrum license to kick-start P1, which began operations in 2008.