Aerometrex Limited (ASX: AMX) has appointed Robert Veitch as acting chief executive officer, effective immediately. Veitch, previously a senior executive at Aerometrex and general manager of its MetroMap division, takes over following the resignation of CEO Steve Masters.
Aerometrex, founded in 1980, is a leading provider of aerial mapping services across Australia and internationally. The company specialises in high-resolution imagery through its MetroMap subscription service, as well as LiDAR and 3D modelling solutions.
Leadership transition
Masters, who has resigned to pursue other opportunities, departs Aerometrex today and has also stepped down as a director. The board has thanked him for his contributions during his tenure. As part of his departure, Masters has agreed to forgo his 448,390 FY22 performance rights and the equity component of his FY24 short-term incentive award, valued at $17,550.
Veitch’s background and expertise
Veitch joined Aerometrex in September 2024, bringing over 30 years of leadership experience in digital innovation and technology. He previously founded and served as CEO of Delineate, working with major corporations such as Google and Tesla. His expertise spans 3D technology, machine vision, LiDAR, camera systems, radar, simulation, and generative AI.
Aerometrex chairman Mark Lindh highlighted Veitch’s extensive experience in the sector, particularly his work with autonomous vehicle technologies and mapping systems. “Rob has deep expertise in 3D technology, including models, visualisation, scanning, and additive manufacturing. His industry knowledge will be invaluable in accelerating revenue growth and profitability,” Lindh said.
Strategic direction
In his new role, Veitch will lead the company’s ongoing strategy to expand its aerial mapping services, including MetroMap, LiDAR, and 3D solutions. He expressed confidence in the company’s growth potential. “I have enjoyed leading our MetroMap team, can see the many opportunities for Aerometrex to grow, and look forward to leading the wider business,” he said.
Key terms of appointment
Veitch will receive a total fixed remuneration of $290,000, excluding superannuation, while serving as acting CEO. He is eligible for short-term incentives of up to 20% of his base salary, based on corporate and individual performance criteria, and long-term incentives of up to 30%, contingent on shareholder value growth over a three-year period.
