Reid is to succeed Vincent English who resigned from the role at the start of the month, as well as stepped down from his position as executive director of the company. However, English is to remain available to advise and assist Megaport with transition until 30 April 2023 with Megaport's chairman and founder, Bevan Slattery having served as interim CEO.
"Vincent has provided outstanding leadership as CEO of Megaport for the past six years, leading the business through its scale up and scale out transformation," said Slattery.
"Vincent has been responsible for driving the vision of the company through a period of incredible growth and for creating a legacy which sets the company up for accelerated revenue growth and operational success in the future.”
Reid enters the role with over 19 years of industry experience. During his time with ThousandEyes, Reid transformed the organisation’s go-to-market efforts and helped grow ThousandEyes into the world's largest cloud, SaaS and internet visibility platform.
In addition, Reid grew the team from 150 personnel to nearly 400, grew annual recurring revenue by 2.4 times and extended the business into new global regions.
Prior to his time at ThousandEyes, Reid also served as head of global sales for multiple Cisco acquisitions, leading sales for the northern region of Australia, and leading sales for the Australia's largest financial services customers.
“We are thrilled to welcome Michael as the new CEO of Megaport," said Slattery.
"Michael is a proven technology growth leader with deep experience in developing and leading multiple global recurring revenue SaaS businesses. His expertise and drive will be pivotal to strengthening Megaport’s go-to-market strategy and product roadmap and leading the Company into its next stage of growth.”
In a LinkedIn post about the announcement, Slattery added "Australia is fortunate to be able to welcome home a growth focused CEO to help push our platform further and deeper globally."
Reid will initially commence his role in San Francisco where he is currently based but will relocate to Brisbane by July 2023.
At the same time, effective immediately current chief financial officer, Sean Cassidy is leaving Megaport as with Leticia Dorman, the current head of finance, to be appointed as interim chief financial officer as the company undertakes a global executive search.
