Amcom chief executive Clive Stein will step down from the role on 29 June, the company announced today.
The exit follows Amcom's recent merger with Vocus Communications, with Vocus CEO James Spenceley due to take on the same role for the combined entity. Spenceley will also become the managing director.
"Clive saw the compelling logic in pursuing the combination with Vocus very early," said Amcom chairman Tony Grist, adding that during the six months since the Vocus deal was announced, Stein "worked with his management team to ensure a smooth transition could occur".
Grist paid tribute to Stein's steering Amcom through a period of tremendous growth.
"When Clive was appointed as CEO in 2007, Amcom’s market value was around $60 million. Over the past eight years, Clive has steered the Company to a ten-fold increase in value during a period of great change in our industry," said Grist.
The Amcom-Vocus combined company will be a major $1.2 billion player in the Australian market, but the marriage faced resistance from Amcom's minor shareholder TPG.
Earlier this month Amcom secured enough shareholder votes to pass the Vocus acquisition proposal. The deal was sealed last week with approval from the Federal Court after TPG failed to show up to the hearing.
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