Founder of publicly listed software company TechnologyOne Adrian Di Marco is retiring at the end of the financial year.
Di Marco founded TechnologyOne in 1987 with backing from Mactaggart Family, who have been his business partners throughout the last 35 years.
TechnologyOne deputy chair Pat O’Sullivan will succeed Di Marco’s role as non-executive chair.
“We started at the front of a hides processing plant in an outer Brisbane industrial suburb and later became one of the first technology companies to list on the Australian Securities Exchange (ASX) in 1999 before the dotcom boom,” Di Marco said.
“The idea was to build ‘true software products’ here in Australia that did not require the source code to be modified, but instead could be configured, with each customer’s unique configuration sitting outside the software. Today this is common practice, but back then it was revolutionary."
Di Marco reflected the company’s journey having navigated four major technology paradigm shifts starting with relational database technology, the PC, internet and recently the cloud.
“At each stage we have had the conviction and courage to rebuild our products and our business to adapt to a new world,” he said. “Today’s announcement is the final step of a carefully planned transition that started with the appointment of our long service COO, Edward Chung, to the role of CEO in 2017, the renewal of our board over the past five years and the recruitment of a very experienced deputy chair, Pat O’Sullivan.
“There have been challenges over the years at TechnologyOne and there will be more ahead. I am confident that our DNA of adapting, changing and never giving in, will allow us to continue to be very successful under the strong leadership of our CEO, Edward Chung and his team.
“In the end, TechnologyOne’s success comes down to the amazing hardworking and passionate people that work at TechnologyOne, that I have had the honour to work with for so many years. To all of our people I say thank you,” he added.