Newman takes reins at nearmap

Perth tech entrepreneur Rob Newman has replaced Sydney-based Simon Crowther as managing director of loss-making aerial imagery company nearmap.

Mr Newman has been a non-executive director at nearmap since 2009, when it was a wholly-owned subsidiary of listed technology company ipernica.

The change comes one month after Mr Newman announced plans for a backdoor listing by another tech company, Pointerra, which he chairs.

Chairman Ross Norgard said Mr Newman would draw on his track record of taking Australian technology into the US market.

“We have undertaken a management transition to equip nearmap with the necessary skills and capabilities to deliver on our significant potential,” he said.

Mr Newman said his priorities at nearmap were to drive profitability in Australia, accelerate sales growth in the US and continue to build the systems, processes and people to support further strong growth.

In the year to June 2015, nearmap reported a 30 per cent lift in revenue to $23.4 million.

It also incurred a big increase in sales and marketing expenses, and consequently went from a $7.1 million profit in FY14 to a $789,000 loss in FY15.

The nearmap board today reaffirmed its forecast that Australian revenue would reach a run rate of $28 million to $32 million by the end of the calendar year.

It plans to provide a further update at its annual meeting on November 30.