Wellington Drive Technologies announces CEO stepping down

®
is a registered Trademark of Wellington Drive Technologies WT 9463

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


30 October 2020


Market Announcement
For immediate release

Wellington Drive Technologies announces CEO stepping down

The company advises that its CEO, Greg Allen, will be stepping down from his CEO role on or before April
1
st
2021 to pursue other opportunities in Canada where he is based.

To ensure that Greg's knowledge of the industry and relationships with strategic partners and customers
are maintained and leveraged by the company, and to provide continuity in several ongoing strategic
projects, Greg will join the board as an overseas-based Director, effective October 30, 2020. Greg has
committed to be with the company to at least the end of calendar 2021 to support the board and new CEO
in developing plans to return to growth as the world exits the Covid-19 situation.

John McMahon, Wellington’s Chairman, commented “Greg has led the company through a successful
financial turnaround and strategic pivot to connected IoT solutions and cloud data services. Under Greg’s
leadership, the company has grown its business with all the world’s major beverage brands and cemented
the position of Wellington as the market leader in food and beverage IoT. We are very grateful for Greg’s
leadership and contribution that has seen Wellington achieve record revenue growth and the company’s
first-ever profit. We are very pleased that Wellington will continue to have the benefit of his experience on
the board. Our strategic focus continues to be on providing the best IoT and EC Motor solutions to the food
and beverage market and continuing to expand our software and hardware product offerings.”

Greg Allen, CEO, commented “I have been honoured to serve the company as CEO and be part of an
amazingly talented team, supporting our customers, partners and shareholders over the last decade.
Wellington has a bright future, despite the challenges that COVID has put in front of us because our team is
the best there is and our products are world-beaters. I am stepping down from the role of CEO to pursue
further education and explore new opportunities for board and management roles in North America where I
am based. I am very excited to be maintaining my involvement with Wellington and joining the Wellington
board.”

The board has formed a subcommittee to conduct a global search for a new CEO, which will include
internal candidates. The company will consider a wide range of potential skills, including New Zealand
based candidates with food and beverage industry experience and international SaaS and digital business
building backgrounds.

The board has determined that Greg Allen will not be an independent director of the company given his
ongoing employment with the company until April 2021.

WT 9463

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:

Greg Allen John McMahon
Chief Executive Officer Board Chair
Phone +1-778-238-6494 +61 (0) 410 411 806