GetSwift Limited (ASX: GSW) (‘GetSwift’ or the ‘Company’), a
leading provider of SaaS logistics technology, today announced the
appointment of Terrance White to the GetSwift Board of Directors. Mr.
White brings over 40 years of experience directing, advising and
investing in private and public companies from early-stage tech
start-ups to the Fortune 250, with extensive experience in international
business development, sales management, and marketing.
“I am excited to join GetSwift’s Board of Directors at this time of
significant growth and expansion for the Company. GetSwift has built a
world class senior executive team that from a leadership, strategy,
product, technology, and operations standpoint that is second to none.
Their recent acquisition of two complimentary SaaS platforms and their
integration to meet customer needs in the last mile and workforce
management demonstrates a unique ability to execute rapidly the lessons
their business intelligence data is giving them,” Mr. White said. “I
look forward to drawing on my experiences scaling organizations –
particularly revenue teams – to help GetSwift scale while growing the
Bane Hunter, Chief Executive Officer and Executive Director said, “Terry
is an outstanding global executive with a wealth of experience
particularly in the North American markets. His insight, advice,
networks and experience will be most welcome. We are delighted to add
such an accomplished director to the Board and to the Company. We look
forward to working with him in the boardroom to create long-term
Mr. White previously served for 30 years in successful leadership roles
for NYSE publicly listed Genuine Parts Company (GPC). His last 11 years
at Genuine Parts were as President of its Rayloc Division. He was
previously GPC’s Vice President of Sales and Executive Vice President of
NAPA, one of the world’s best-known brands. Over his career, he has been
involved as an advisor, investor and/or board member for several
technology firms including NanoLumens, Interpoint Partners, DIS, and
Gauge Insights. Engaged in the Atlanta community through numerous
memberships and affiliations, he serves on the Board of Trustees of
Oglethorpe University and the Children’s Healthcare Research Trust and
is an active member of the Atlanta Rotary Club.
Consistent with the Company’s focus on revenues and scaling the business
to meet global demand, the Company intends to shortly appoint a new
Independent Non-Executive Chair with strong growth and governance
experience. Importantly, once all appointments take effect, the Board
will continue to have a majority of independent directors.
Annexure: Proposed equity grant
Subject to receiving shareholder approval, GetSwift proposes to issue an
aggregate 300,000 options to subscribe for one fully paid ordinary share
each in the capital of the Company (Options).
These Options are intended to be offered to Mr. White or his associates,
consistent with US market practice for emerging growth companies and
consistent with the previous options awards made to Non-Executive
In accordance with commentary in the ASX Corporate Governance Council
Principles and Recommendations, these securities issued to non-executive
directors will not have performance hurdles. Further, they will not vest
if the recipient ceases to be a director of the Company.
The Options will be granted no later than 1 month following shareholder
approval, with an exercise price for each Option being the 30-day VWAP
for shares in the Company immediately prior to the grant date.
Over 3 years, the Options will vest in equal quarterly installments, but
they may only vest if at the time of the applicable vesting the
recipient is still a director of the Company. The Options expire 10
years after their issue date.
Adjustments to numbers of options and exercise price are only as
permitted under ASX Listing Rules. If the shares resulting from the
exercise of the options are issued and not transferred, the Company will
immediately apply for quotation of the shares. The Option terms will
include acceleration of vesting for change of control or liquidity
events. Options are not transferable prior to vesting, other than to
estate planning vehicles. At the request of the Option holder and
subject to all applicable law, options may be net exercised.
About GetSwift Limited
Technology to Optimise Global
GetSwift is a worldwide leader in delivery management automation. From
enterprise to hyper-local, businesses across dozens of industries around
the globe depend on our SaaS platform to bring visibility,
accountability, efficiency and savings to their supply chain and “Last
Mile” operations. GetSwift is headquartered in New York City and is
listed on the Australian Securities Exchange (ASX:GSW). For further
background, please visit GetSwift.co.