Governance changes and CEO hiring update

®
is a registered Trademark of Wellington Drive Technologies WT 9473

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


26 November 2020


Market Announcement
For immediate release

Wellington Drive Technologies governance changes and CEO hiring update

Governance update
In June 2020, Wellington Director Gottfried Pausch assumed a part-time executive director role to assist and
strengthen the local New Zealand management team with COVID-related challenges. As a result of that
role, he was deemed to no longer be an independent director. Gottfried’s executive role has ceased and the
Wellington Board has determined that Gottfried Pausch is now an independent director of the Company.
The Directors consider it important to have a locally-based Chair, particularly during a period of CEO
transition, and accordingly Gottfried Pausch will assume the role of Chair from John McMahon, effective 1
December 2020.

As part of the company’s 2021 planning process, board sub-committees have been reviewed and the
following changes will also take effect from 1 December:
•
Keith Oliver will take over from Gottfried as Chair of the Executive Appointment and Remuneration
Committee (Gottfried will remain on the Committee to assist with transition);
•
John McMahon will take over from Keith as Chair of the Audit and Risk Committee (Keith will remain on
the Committee to assist with transition); and,
•
John Scott will Chair the Technology and Innovation Committee, which will include John McMahon and
Gottfried as members.

CEO transition
The board has engaged Auckland based international leadership consulting firm Kerridge & Partners to
assist in its search for a new CEO. With the support of Kerridge & Partners, the board has commenced a
local and international search for suitable candidates and expects interviewing to commence early in 2021.
Operating update
In May 2020, as a result of the global COVID-19 pandemic, the Company announced a range of temporary
salary cuts for staff, executives and directors. Salary reductions for lower paid staff have been partially
reversed and Wellington intends to fully reverse salary cuts for all staff and executives and restore fees for
directors from 1 January 2021. The Board would like to thank Wellington team members for the salary
sacrifice made in 2020 which greatly contributed to its ability to manage through the COVID related
economic downturn.

WT 9473

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:
Gottfried Pausch John McMahon
Phone +64-21-258 4054 +61-410-411 806