After having hit a 52-week low at $2.23 yesterday, Vocus Group Ltd (ASX: VOC) was one of the top gainers on the ASX200 today, up 5.75% to $2.39 on news that Bob Mansfield will replace Vaughan Bowen as its chairman.
Mr Mansfield joined the Vocus board in January 2017, after having held prominent positions in the industry as Telstra chair and Optus CEO, as well as in other sectors including the public service.
Mr Bowen was one of the founders of M2 Group, the telco that merged with Vocus in 2016, and was appointed chairman in October. Bowen leaves Vocus' board together with fellow M2 founder Craig Farrow.
Bowen's resignation comes just 10 days after the exit of CEO Geoff Horth, in the wake of a tough month that saw the company slash its half year NPAT by 25%, downgrade its full year earnings forecast. and lose about one quarter of its market capitalisation.
