BRISBANE, 31 October 2023: Australia’s leading IT services and solutions provider, Data#3 Limited (ASX: DTL), announces that Laurence Baynham will step down from his role as Chief Executive Officer and Managing Director, on 1st March 2024. Mr. Baynham has been with Data#3 for 29 years.
As part of the company’s longstanding succession plan the Board has subsequently resolved to appoint Brad Colledge to take over as Chief Executive Officer and Managing Director after a 4month transition period, with effect on 1 March 2024.
Mr Colledge has been with Data#3 for 28 years, having joined the Company in 1995. Commencing as an Account Executive, he went on to create and lead the Licensing Solutions business in 1997. He managed the Licensing business for 17 years before taking on responsibility for the broader Software Solutions business in 2013. In 2014 he expanded his remit to the Infrastructure Solutions business and more recently Services. His current role is Executive General Manager of Software Solutions, Infrastructure Solutions and Services. He is a business graduate of the Queensland University of Technology and a Graduate of the Australian Institute of Company Directors.
Laurence Baynham said: “In my tenth year as Managing Director and CEO I believe now is the right time to hand over the baton. Data#3 has never been in better shape, and I am proud of the growth we have achieved during this time, with our market capitalisation increasing tenfold. As I cease my role as a full- time executive, I will consider turning my attention to non-executive roles.
The company has been built on the experience, tenure and culture of our team and it is very satisfying to have such a high caliber internal candidate to see the business through this exciting next phase in its growth journey.
Brad has my 100% backing and is exceptionally well placed to lead Data#3. He joined the Company just one year after I did and has an intimate knowledge of the business. He has already had considerable responsibility across different operational aspects and as a key member of the senior leadership team has been instrumental in setting its strategic direction for some time. Brad is highly regarded across the business and by the rest of the senior leadership team and Board. I would like to personally congratulate Brad and thank him for his support, loyalty, professionalism and expertise over many years.”
Brad Colledge said: “Laurence has been an exceptional and valued leader of Data#3 and it has been a pleasure having him as a trusted mentor and colleague. He leaves a mammoth legacy after a decade as Managing Director and CEO and nearly three decades in the business. Data#3 is the market leader in Australia with a high-quality customer base built over many years thanks to our diverse offering, strong industry relationships and exceptional team. I am excited to be taking over at a time when the industry is evolving so rapidly, with Data#3 at the forefront of driving this change.”
Richard Anderson, Chairman of Data#3 Limited, said: “Laurence has made an enormous contribution to Data#3’s success with his outstanding leadership and management of our business and its people. I am also pleased with Brad’s future appointment and I am sure he will have the support of the entire Data#3 team. The changes we have announced are all part of a carefully developed succession plan to ensure continuity and confidence in the business going forward. I would like to take this opportunity to thank Laurence for his nine years as CEO/MD, and to congratulate Brad on his appointment into the role next year.”
Brad Colledge (pictured) has been appointed as Chief Executive Officer and Managing Director for Data#3, effective 1 March 2024.