Enero CEO Brent Scrimshaw has agreed to an extension of his employment agreement with the marketing, technology and communications group.
Scrimshaw’s employment agreement will be extended another three years to June 20, 2026.
Terms and conditions of employment remain unchanged. The latest Enereo annual report shows his base pay at $800,432. Incentives and shares take the annual value of his salary to more than $2 million.
Scrimshaw said Enero is dedicated to providing a market-leading integrated offering that delivers the most modern and relevant marketing services in growing global verticals and industries.
"The execution of this strategy has delivered remarkable results over the past three years as we’ve continued to transform the Enero business," he said .
"Looking ahead, I am incredibly excited to continue our sustained growth trajectory, momentum, and commitment to the ongoing transformation of our business around the world."
Enero, since Scrimshaw joined the creative technology company three years ago, has increased net revenue by 61%, growing its EBITDA by 119%, and expanding its EBITDA margin by 7 percentage points.
Enero chair Ann Sherry says Scrimshaw, since joining the company in July 2020, has led a significant transformation of the group across its people, portfolio and financial performance.
"The board are very pleased to extend his contract as the Enero Group CEO for another three year term," she says.
The Enero businesses includes BMF, the AdNews Agency of the Year, and Hotwire.
Enero Group alsos announced to the ASX an on-market buy back of its ordinary shares.
Ann Sherry says Enero’s current share price does not accurately reflect strong financial success, performance and underlying value.
"The buy back represents an opportunity to add value to the remaining shares on issue," she says.
“Enero remains committed to a strategy that accelerates growth and shareholder returns, with specific capital management initiatives including the buy back.”
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