Vocus jumped more than 6% yesterday, ending at $2.40 after it said that former Telstra chairman and founding Optus chief executive Bob Mansfield will replace Vaughan Bowen as its chairman.
Mr Bowen, who founded M2 Group which merged with Vocus in 2016, will leave the telecommunications provider altogether just over a week after chief executive Geoff Horth departed, following a challenging period of downgrades and share price tumbles.
Mr Mansfield has been deputy chairman since October. Vocus is now looking for a replacement for Mr Horth and perhaps another director.
Mr Mansfield was seen as the preferred candidate to be chairman in October, but at the time was not prepared to take on the role. He joined the Vocus board in January 2017.
