Wholesale minutes trader Arbinet Corp. (ARBX), which recently reported a $967,000 second-quarter profit, is in the midst of some executive changes.

Earlier this week, the New Jersey-based company said CFO John Wynne is stepping down from his position on Nov. 15, but will remain as a consultant through March 2010 as the board looks for his replacement.

No reason was given for Wynne’s departure.

Meanwhile, on Thursday, Arbinet said it has hired John Tolton as its vice president for the Asia-Pacific region. Tolton comes from VoIP wholesaler iBasis, where he served as that company’s Asia-Pacific vice president. He formerly was COO at Nextel Philippines.

Tolton is tasked with forging partnerships with Tier 1 mobile and fixed operators, as well as ISPs and emerging service providers.