Announces New CEO and Reconfirms Market Guidance

TechnologyOne is pleased to announce the appointment of its long standing Chief Operating Officer, Mr Edward Chung to the position of CEO. Mr Chung has been an executive of TechnologyOne for approximately 10 years.

Mr Adrian Di Marco, TechnologyOne's founder and one of Australia's longest serving CEOs over a period of 30 years; will continue in the role of Executive Chairman to work with the executive team and board; as well continuing to focus on strategy, innovation and creativity to ensure the company continues to build future platforms for strong growth.

“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,” said Executive Chairman, Adrian Di Marco.

“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 significant opportunities ahead of us, it is the perfect time to commence the transition to a new generation. Edward's appointment to the role of CEO, supported by our talented executive team, will ensure business continues as usual.

“The next 10 years will be an exciting period of strong growth for TechnologyOne as we rollout the TechnologyOne Cloud, as our new generation enterprise system Ci Anywhere enables the digital economy, as our geographic expansion continues in the U.K., and as we look to expand into new geographies. Edward is one of the most talented executives in the Australian IT industry. He understands our vision, strategy and culture and this appointment will position the company to capture this future growth.

“I will continue to be actively involved in the business and I very much look forward to working with Edward and the executive team, as well as continuing to work with our R&D teams. I also plan to remain a major shareholder of TechnologyOne”.

These changes will be effective Tuesday May 23rd, after the release of the company's half year results. TechnologyOne also reconfirmed previous market guidance for continuing strong growth over the full year.

About TechnologyOne

TechnologyOne (ASX:TNE) is Australia's largest enterprise software company and one of Australia's top 200 ASX-listed companies, with offices across six countries. We create solutions that transform business and make life simple for our customers. We do this by providing powerful, deeply integrated enterprise software that is incredibly easy to use. Over 1,000 leading corporations, government departments and statutory authorities are powered by our software.

We participate in only eight key markets: government, local government, financial services, education, health and community services, asset intensive industries, project intensive industries and corporates. For these markets we develop, market, sell, implement, support and run our preconfigured solutions, which reduce time, cost and risk for our customers.

For 30 years, we have been providing our customers enterprise software that evolves and adapts to new and emerging technologies, allowing them to focus on their business and not technology. Today, our software is available on the TechnologyOne Cloud and across smart mobile devices.

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Phone: +61 (07) 3167 7991