Wellington Drive announces governance changes

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is a registered Trade Mark of Wellington Drive Technologies WT 9157

Wellington Drive Technologies Ltd
P: +64 9 477 4500 E: info@wdtl.com
21 Arrenway Drive, Rosedale, Auckland 0632
PO Box 302-533 North Harbour, Auckland 0751, New Zealand
www.wdtl.com







27 March 2019

Media Release
For immediate release
Wellington Drive Technologies Ltd (WDT) announces governance changes


Wellington Chairman Tony Nowell today confirmed his previously advised decision to retire from the
Chairmanship and resign as a director of the company with immediate effect.

Expressing his strong admiration for the commitment and focus of the executives, employees, board
members, shareholders and business partners, Mr Nowell said “the last 8 years in particular have seen a
real team effort across all fronts. Success is never guaranteed, but the immense energy and innovative
efforts of CEO Greg Allen and his team, aided by passionate shareholders and global supply chain partners
who believed in and supported Wellington’s strategic direction, has turned this business around and put it on
a sustained growth trajectory in very dynamic markets.

“I thank the board members past and present for their diligence and support and welcome the new board
members who I know will make a refreshing and important contribution to Wellington’s ability to capture
exciting new market opportunities”.

Following Mr Nowell’s retirement, independent director John McMahon has been appointed as Acting
Chairman of the company. Given the recent changes to Board composition, the permanent Chair role will be
reviewed later in 2019.

The Board and Wellington team would like to recognise outgoing Chairman Tony Nowell, Director of
Wellington for the last 9 years and Chairman for 8 of those years. Mr. Nowell’s leadership has helped guide
the company through its financial turn-around and has seen the start of the new Wellington Connect IoT
business that is underpinning its future direction and growth. The Board and Wellington team wish Mr.
Nowell every success in his next endeavours.

WT 9157

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Mr Nowell also announced the appointment of Keith Oliver as a non-executive director and welcomed Mr
Oliver to the board.

Mr Oliver is currently: an independent director at Rakon Limited and chair of their Nomination and People
Board subcommittee; Executive Chairman at Blackhawk Tracking Systems; Non-Executive Chairman at
Healthvision New Zealand Ltd; and Director of Alto Capital Limited. He was previously Chairman of Compac
Sorting from 2009 to 2012, Actronic Technologies from 2004 to 2013, Loadrite from 2004 to 2013 and
Truescope from 2003 to 2013, and a Director of the NZ Health Innovation Hub from 2012 to 2014, and
Crown Research Institute - ESR Limited from 2004 to 2007.
Mr Oliver was Managing Director & Founder of Teleconsultants New Zealand, a strategy and project
management consultancy, from 1986 to 1996. He graduated from The University of Auckland in 1997 with a
Bachelor of Engineering – Mechanical Engineering.

“Keith Oliver brings to the board more than 20 years of experience in a wide range of governance and
executive roles in public, private and Crown owned entities, with a particular focus on the development and
commercialisation of new technologies and most recently IoT related technologies and markets. He has
extensive experience with capital investment, mergers, acquisitions, shareholder succession, and strategy.
He will add considerably to Wellington’s governance of strategy, innovation and new market development.”

Mr Oliver is considered by the board to be an independent director for the purposes of Listing Rule 3.3.2 and
will commence his duties with immediate effect.


About Wellington Drive Technologies:

Wellington is a leading provider of IoT solutions, cloud-based fleet management platforms, energy-efficient
electronic motors and connected refrigeration control solutions. It serves some of the world’s leading food
and beverage brands and refrigerator manufacturers and offers proximity-based marketing for Smart Cities
to the Australian market. Wellington’s services and products improve sales, decrease costs and reduce
energy consumption. Headquartered in Auckland with a global reach, Wellington is listed on the New
Zealand stock exchange under the ticker symbol NZ:WDT

For further information visit
www.wdtl.com



Contact:

John McMahon
Acting Chairman
Phone +61-(0)410-411 806