IT chief to step down

Melbourne IT chief executive Theo Hnarakis will step down later this year as the domain name and website services provider continues to simplify its operations. Melbourne IT reported a profit of $70.3 million for the first half of 2013, up from $5.8 million in the prior corresponding period. The bottom line was boosted by the sale of two divisions.

Melbourne IT chief executive Theo Hnarakis will step down later this year as the domain name and website services provider continues to simplify its operations. Melbourne IT reported a profit of $70.3 million for the first half of 2013, up from $5.8 million in the prior corresponding period. The bottom line was boosted by the sale of two divisions.