Auckland, New Zealand; 16 May, 2019. Outdoor self-service payments solution leader Invenco Group Ltd, has today announced Gavin Lennox will stand down as CEO at the end of the month. He will be replaced by John Scott (pictured), who until recently was COO of Navico, a global leader in marine electronics for the recreational and commercial sectors.
The move, jointly announced to employees by Lennox and the Invenco board, signals the company’s ongoing commitment to global growth as the hi-tech manufacturing and solutions company scales rapidly to meet global demand.
“In the years since Gavin has taken the helm Invenco’s growth has been relentless,” says Invenco Chair, Sir Peter Maire. “Invenco has quadrupled revenues, delivered consistent profitability, positive cash flow and built the foundation for a world-class hi-tech operation. It has achieved over $100 million annual turnover and received numerous accolades including being named as the 2018 NZ Hi Tech Company of the Year.
“We have been working on a transition plan since Gavin indicated to the board his intention to move on,” he says. “We are delighted the timing has enabled us to secure John Scott to lead Invenco through its next stage of global growth, bringing a breadth of global manufacturing and operational experience to the table.
“Gavin Lennox will continue as an Invenco shareholder and will work with John to achieve a speedy and seamless transition for the company over the next few months.”
A long-time champion of New Zealand tech companies, Gavin Lennox is looking to continue his work with Angel Investment companies and start-ups. “It has been an intense few years to bring Invenco to this point in its journey,” says Gavin Lennox. “There are exciting times ahead for the company and I believe we have a strong team in place; the organisation is in good hands and good heart.”
John Scott is no stranger to Sir Peter Maire led companies having worked for the tech entrepreneur at Navman back in the early 2000s. He remains a non-Executive Director of both Navico and Wellington Drive Technologies.