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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 1st 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.