(Reuters) - Australian internet company Vocus Group Ltd <VOC.AX> said on Monday it would separate the enterprise and wholesale arm of its Australia business into two operating segments.
The new divisional operating structure was initiated as part of the company’s accelerated transformation programme, Vocus said in a statement.
The division would result in the creation of four reportable operating arms - enterprise and government, wholesale and international, consumer, and a separate segment for New Zealand - the company said.
Michael Simmons, former chief executive of TPG Telecom <TPM.AX> and current CEO of the enterprise & wholesale business, will head the wholesale & international division, Vocus added.
The Sydney-based company's shares, up 0.9 percent after the announcement, slid more than 20 percent in 2017, a turbulent year that included a failed buyout negotiation.
Vocus has also struggled to get the most out of acquisitions bought in a three-year, A$2.4 billion ($1.9 billion) shopping spree and was forced to cut its dividend in 2017 when annual underlying profit fell short of the company's guidance.
(Reporting by Aditya Soni in Bengaluru; Editing by Peter Cooney and Paul Tait)
