Australian telecommunications company, Swoop Holdings Limited, has appointed David Michaels as its new Chief Revenue Officer (CRO). The announcement comes in the wake of an impressive fiscal year, with Swoop reporting a 51% increase in year-on-year revenue growth, a rise in Underlying EBITDA to $16.3m from $13.0m, and its first quarter of positive Free Cash Flow in Q4 FY23.
Michaels served as the Head of Sales and Marketing at Swoop for 18 months prior to this promotion, during which he drove a committed team in delivering strategic sales and marketing strategies across the company. These efforts contributed significantly to the company's overall financial success, with increases in both the consumer and business division sales by 200%, and improvements in marketing customer acquisition costs.
In his new role as CRO, Michaels' remit will encompass driving revenue growth and profitability, and directing financial strategies. This will support Swoop in its continued growth and national expansion goals.
Swoop's Chief Executive Officer, Alex West, expressed his enthusiasm about Michaels' appointment. He says, "I am very pleased to announce that David Michaels, our former Swoop Head of Sales & Marketing, has been appointed as Chief Revenue Officer. Since joining in May 2022, David has made an immense contribution across the business, most notably in the development of brand awareness, customer acquisition and product integration."
West believes that Michaels' promotion arrives at a pivotal time for the company, aligning with its rapid expansion and ambitions to become Australia's premier telco challenger. "His strategic foresight, coupled with his dedication to nurturing teams and implementing innovative strategies, aligns seamlessly with our goal to delight our customers. His expertise will be instrumental in driving our mission forward, ensuring that Swoop not only meets the market demands but continues to deliver a better telecommunications experience."
Michaels, soon to be Swoop's CRO, expressed his excitement about his new post, stating, "I’m very excited to be taking on the role of Chief Revenue Officer at Swoop during a high period of growth. Having been with the company for almost two years, I am proud to be part of an organisation that prides itself on delivering quality broadband, voice and mobile services to residential, small business and channel customers, delivering our purpose of connecting people and improving lives."
He added that his focus as CRO will be on driving Swoop's growth by aligning sales and marketing, improving stakeholder relationships, and providing strategic guidance on Mergers and acquisitions. He affirms, "At Swoop, we’re driven to become Australia's best challenger internet and telecommunications provider as we believe everyone deserves a better telco experience."
Michaels has spent more than a decade working in senior sales managerial roles within the telecommunications industry before joining Swoop, including a stint at the Vocus Group Limited. This wealth of experience places him in good stead to steer Swoop's revenue strategy and journey towards becoming Australia's top challenger provider in the telco sector.