EROAD Appoints New Chief Executive Officer

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EROAD Appoints New Chief Executive Officer
21 June 2022
Transportation technology services company EROAD (NZX/ASX: ERD), with its purpose of safer and
more sustainable roads, is pleased to confirm the appointment of Mark Heine as EROAD’s new Chief
Executive Officer.
The Board began a global search process in late 2021 for a new Chief Executive Officer to allow Steven
Newman to step back from the day-to-day responsibility of leading the company. With Steven’s
resignation in early April the Board have had to reconsider the skillset a new Chief Executive Officer
needed to bring to EROAD.
Today the Board is extremely pleased to announce the appointment of Mark Heine as EROAD’s Chief
Executive Officer. Given Mark’s deep knowledge of the business, team building skills, and
understanding of the company's strategy he emerged as the stand-out candidate.
Chairman Graham Stuart said ‘As Acting Chief Executive Officer Mark has empowered the team and
won the respect of all. EROAD’s Board has been impressed by Mark’s leadership and commercial skills
and since his appointment as interim Chief Executive Officer in early April he has breathed fresh air
into EROAD. His in-depth knowledge of the business will be invaluable as we complete the integration
of Coretex.’
Mark Heine said “My three months as Acting Chief Executive Officer has reinforced my view that
EROAD is extremely well positioned with the merger of Coretex, providing an excellent platform for
future growth. I'm pleased to be leading EROAD at a pivotal point in its history.’
‘We have invested heavily in our capability and now is the time to deliver on this investment. We will
sharpen our focus to ensure delivery on our North American strategy while retaining focus on our
successful New Zealand business and the growth Australia provides in the medium term” says Mark.
Mr Heine will be paid a base salary commensurate with benchmarks for businesses of EROAD’s size
and sector, with additional short and long-term incentive payments based on the achievement of
targets agreed with the Board.
Ends
Authorised for release to the NZX and ASX by the EROAD Board.
For Investor enquires please contact:
Anna Bonney
Investor Relations
anna@merlinconsulting.co.nz
Ph +64 21 844 155
For Media enquiries please contact:
Giles Rafferty
Corporate Communications and Media Advisor
grafferty@firstadvisers.com.au
Ph +61 481 467 903

Page 2 eroad.co.nz
Appendices 1:
Mr Mark Heine biography
Mark has been with EROAD since 2015 and has worked closely with the Board and as a member of
EROAD’s Executive Team. Mark came to EROAD from positions at top New Zealand and overseas legal
practices including Bell Gully in Auckland and Allens in Sydney where he practiced law across a range
of legal areas including corporate commercial, M&A, litigation, privacy, IP and antitrust. Mark has also
been employed as a barrister in New Zealand. He holds practising certificates for New Zealand and
Australia.
Appendices 2:
Summary of Material contract terms
Commencement Date: 21 June 2022

Base Salary: NZD $700,000

Incentives: STI – 40% of base salary, based on performance against key
financial (60%) and strategic (40%) metrics

LTI – 60% of base salary, of which 50% is based on performance
against key financial and strategic metrics, 50% based on retention
Notice provision: 6 months by either party