EROAD has appointed David Kenneson to work alongside Mark Heine as dual-chief executive in a move aimed at strengthening the firm’s global growth strategy, especially in North America.
“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,” chair Susan Paterson says.
“David and Mark are both outstanding leaders who know each other well and have diverse yet complementary skills, experience and focus areas.
“David has exceptional sales and marketing, company-scaling and delivery expertise, while Mark has exceptional strategic, financial, transformation and product development expertise and a deep knowledge of EROAD from his nine years with the business.
“While David will be based in the United States and Mark in New Zealand, both roles are global in nature and David and Mark will work together in all markets to ensure success for EROAD.
“Moving to a dual-CEO model means EROAD can effectively double-down David’s greater focus on growth in all markets and on sales and marketing which will allow Mark to focus even more on strengthening the core product and engineering functions of the business, which is critical to underpinning growth in other markets,” Paterson says.
Kenneson’s appointment took effect on March 5 and his and Heine’s remuneration packages will be disclosed in the next remuneration report.
Heine says dual CEO leadership will deliver more value to shareholders and customers by giving each market full attention.
“The dual CEO model will optimise our ability to navigate complexities, capitalise on opportunities, and ultimately deliver greater value to shareholders.”
EROAD operates in both New Zealand, Australia and North America markets and has set a strategy to be cash flow positive in the latter part of this year.
“I took the rationale for a dual-CEO to the board, and they agreed and helped with the architecting of the dual-roles and the governance changes required.
“Having worked with David and seen how he operates I knew he was the right person – we are fully aligned on the future for EROAD, and how to get there.
“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,” Heine says.
Kenneson say he was “honoured” when approached with the idea of partnering as a dual-CEO.
“I have been working with EROAD in a consulting capacity and I have a deep appreciation for the growth potential of the business and its product and sustainability leadership.
“Over my many years working in North America, Europe and Asia I have established a track record of driving substantial P&L performance, executing robust growth strategies, and leading through complex business transformations and I am excited to continue this at EROAD.
“Mark and I share common values and a vision for EROAD’s future, and I’m excited about the opportunity to work with the EROAD team, its products, and its customers.”
