ERD
Source: EROAD
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  • ERoad (NZX/ASX:ERD), a transport and telematics technology services company, announces the appointment of David Kenneson as dual-CEO alongside Mark Hein
  • The decision is a strategic move in the company’s global growth plan, emphasising North America, and strengthing its presence in Australasia
  • David Kenneson will assume the role of dual-CEO in the coming weeks
  • ERD last traded at 73.5c, at 11am AEDT

ERoad (NZX/ASX:ERD), a transport and telematics technology services company, has announced the appointment of David Kenneson as dual-CEO alongside Mark Heine.

The decision is a strategic move in the company’s global growth plan, emphasising alignment with the strategy to expand in international markets, particularly North America, and strengthen its presence in Australasia.

“While not especially common in New Zealand and Australia, the dual-CEO model has performed exceptionally well in other markets, particularly when the two CEOs are complementary and have clear roles and accountabilities,” EROAD Chair Susan Paterson said.

With that said, it’s still a fairly rare setup for the ASX. Regardless, Heine is bullish on the move.

“David brings to the table a wealth of experience and a proven history of fostering innovation and driving growth. Our shared strategic vision is to help guide EROAD through its next chapter of expansion and technological leadership in the global telematics market,” EROAD CEO Mark Heine said.

“However, to accelerate our growth in North America and to continue to build on our strong market position in the New Zealand market, we have decided that dual CEO leadership will allow us to deliver more value to shareholders and customers by giving each market the full attention they deserve.

“The dual CEO model will optimise our ability to navigate complexities, capitalise on opportunities, and ultimately deliver greater value to shareholders,” Mr Heine said.

David Kenneson will assume the role of dual-CEO in the coming weeks.

ERD last traded at 73.5c, at 11am AEDT.

ERD by the numbers
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