TechnologyOne founder and CEO, Adrian Di Marco, has handed over the reigns to the Australian software firm’s COO, Edward Chung.
Di Marco, who has been one of Australia’s longest serving CEOs over 30 years will continue as executive chairman and work with the executive team and the board, the company said.
“These changes have been a long time in the planning and it will be no surprise to the market. It has been openly discussed for the last few years with shareholders and staff. Over the last five years, we have built a very strong and talented executive team, and Edward has proven himself to be an outstanding leader and chief operating officer,” Di Marco said in a statement to the ASX on Friday.
“Today, we celebrated across our company, the 30 year anniversary since starting in a small demountable at the front of a hides processing plant in the outer Brisbane suburb of Hemmant, to becoming Australia’s largest enterprise software company and an ASX top 150 publicly-listed company.
“I believe having now reached our 30-year milestone and considering the significat opportunities ahead of us, it is the perfect time to commence the transition to a new generation,” Di Marco said.
Chung officially steps into the role on May 23 after the company announces its half year results.
TechnologyOne has recently been embroiled in a dispute with Brisbane City Council (BCC) over the implementation of the council’s local government platform.
In January, Brisbane Lord Mayor Graham Quirk announced he was seeking to have the contract with TechnologyOne renegotiated since the rollout could end up 18 months behind schedule and $60 million more expensive than anticipated.
TechnologyOne responded, saying it was “confident of its legal and commercial position” should BCC decide to litigate over a dispute involving the implementation of the council’s local government platform.
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