AAPT boss departs ahead of TPG sale

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AAPT boss departs ahead of TPG sale
David Yuile.

Deal sign-off expected this week.

AAPT CEO David Yuile will depart the company at the end of this week following the sealing of the telco provider's sale to TPG.

Yuile will end an almost seven-year career with AAPT, including four years as its CEO and several as chief information officer.

Yuile joined AAPT in 2007 following AAPT's acquisition of his former employer, Powertel.

Former AAPT owner Telecom NZ announced TPG's $450 million purchase of AAPT in December. Yuile said today that acquisition is expected to close later this week.

The sale was a sigh of relief for Telecom NZ, which had attempted to sell off its Australian unit on several occasions before successfully putting up it for sale last December.

Yuile spent his time as AAPT's CEO attempting to turnaround the underperforming business - which in its most recent six-month results posted a 70 percent boost in earnings to $47 million.

Telecom NZ CEO Simon Mutter said Yuile had been instrumental in driving AAPT's transformation into a competitive player in the telecommuncations space.

"David and his management team have done an outstanding job during the last three years to simplify, stabilise, and shape the company," he said in a statement.

"With AAPT now performing very well and joining the TPG group, David departs with our thanks and best wishes."

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