Adrian Di Marco Explained

Adrian Di Marco
Nationality:Australian
Occupation:Executive chairman of TechnologyOne
Known For:Founder of TechnologyOne
Years Active:1987present

Adrian Di Marco (born 1958) is an Australian entrepreneur and businessman. He is the founder and Executive Chairman of TechnologyOne, Australia's largest enterprise software company.[1] [2] [3]

Early life and career

Di Marco was born in Brisbane in 1958, the child of Italian immigrants.[4] He attended St James College in Brisbane.[5]

He became interested in IT after helping his brother, who was studying engineering at university, to program one of the first digital computers. After high school, Di Marco completed a science degree at the University of Queensland,[6] majoring in computer science.[4] Early in his career, he worked at Arthur Andersen (now Accenture).[4]

TechnologyOne CEO

Di Marco founded TechnologyOne from inside a demountable office in the car park at JL Mactaggart Industries' hide processing plant in Hemmant, Brisbane, in 1987.[7] [8] [9] The company initially received with a small amount of capital[10] from JL Mactaggart Industries.[11]

The company began providing financial software,[12] building its products around relational databases.[13] It has since developed enterprise resource planning software[14] for sectors including local government, universities,[4] [15] and hospitals.[16]

In 1998, when Oracle launched a competitor product and revoked TechnologyOne’s licenses, Di Marco made the company’s products database independent, building its own sales, marketing, and implementation divisions.[17] [18] In December 1999, Di Marco led the company into its listing on the ASX making it one of the most successful floats of the DotCom era.[19] In 2001, he was appointed chairman of TechnologyOne.[20]

Di Marco was member of the Australian Institute of Company Directors and was Deputy Chair of the Australian Information Industry Association from 2002 to 2004.[21] He was the Director of the Royal Children's Hospital Foundation Board from 2004 to 2012.[22]

In 2004 Di Marco won the Pearcey Award for innovative and pioneering achievement and contribution to research and development in IT.[23] He was awarded Fellow of the Australian Computer Society in 2010.[24] When he stepped down as CEO in May 2017, Di Marco was one of the longest-serving chief executives of an ASX-listed company.[25]

As CEO, Di Marco established the philanthropic TechnologyOne Foundation,[26] which has made donations to Opportunity International Australia,[27] the School of St Jude in Tanzania, The Fred Hollows Foundation, and others.[28] He also advocated against a business model run by professional managers, which caused the company difficulties in the early 2000s.[29] He has argued that a focus on corporate governance weakens companies and that subject matter experts are more important to have on a board than independent directors.[29] [30]

Post-CEO

In May 2017, Di Marco stepped down as CEO from the company but remained its Executive Chairman and Chief Innovation Officer.[31] [32] As of 2019, Di Marco’s 8.6 per cent stake in the company was worth more than $240m, and with his other investments in property, his net worth is reportedly more than $300m.[33] [34]

In 2017, Di Marco invested in accounting software start-up Practice Ignition.[31] In 2018, Di Marco made a $3.2 million investment in sports tech firm Fusion Sport.[35] In 2019, Di Marco made a $500,000 investment with Snackwise.[36]

Di Marco is a founding member of Software Queensland, a group promoting the Queensland software industry.[37] [38] In February 2022, he announced he would be stepping down as TechnologyOne's executive chairman after 35 years with the company,[39] with his resignation effective on 30 June.[40]

Notes and References

  1. Web site: https://web.archive.org/web/20151006132946/http://www.brw.com.au/p/entrepreneurs/tax_credits_are_wasted_technologyone_p5QFDMg2S4LnUW439mszAL . 6 October 2015 . R&D tax credits are 'wasted': TechnologyOne founder . BRW . 5 October 2015 . 29 June 2021 .
  2. News: Swan . Georgina . 2010-04-29 . Aussie entrepreneur: Adrian Di Marco . en . 153 . Computerworld . 2022-03-22.
  3. News: Pennington . Sylvia . 25 August 1998 . The world according to Adrian Di Marco . 56 . The Australian.
  4. News: Durie . John . Perseverance the key to success . The Australian . 9 August 2019 . 3 February 2022.
  5. News: Kitney . Damon . Learning the 'Fosbury flop' taught boss to aim higher . 2 February 2022 . The Australian . 27 April 2019 . en-AU.
  6. News: Chanthadavong . Aimee . The dos and don'ts: Adrian Di Marco's lessons to success . 14 February 2022 . ZDNet . 29 March 2015 . en.
  7. News: Philipson . Graeme . 6 July 1998 . A true local success story . 2 . The Sydney Morning Herald.
  8. News: Passmore . Daryl . 22 July 2007 . Adrian Di Marco . T15 . The Sunday Mail.
  9. Web site: TechnologyOne CEO Adrian Di Marco prepares to pass the baton . The Sydney Morning Herald.
  10. News: Chanthadavong . Aimee . The dos and don'ts: Adrian Di Marco's lessons to success . . 30 March 2015 . en.
  11. News: Adhikari . Supratim . TechnologyOne's winning formula . . 2012-05-22.
  12. News: Bryant . Gale . 'Technological cringe' leaves industry at a loss, says IT boss . . 20 July 1998 . en.
  13. News: Swan . David . TechnologyOne posts record profit . . 25 November 2014.
  14. News: Barbaschow . Asha . TechnologyOne profit steady at AU$58.5m as SaaS customers reach 435 . 3 February 2022 . ZDNet . 18 November 2019 . en.
  15. News: Adhikari . Supratim . TechnologyOne half-year profit setting a good pace, says CEO Ed Chung . 14 February 2022 . The Australian . 21 May 2019.
  16. News: Foreshew . Jennifer . TechnologyOne braces for new competition . 14 February 2022 . The Australian . 21 July 2015.
  17. News: Redrup . Yolanda . TechnologyOne CEO Adrian Di Marco steps down after 30 years . . 2017-03-28 . en.
  18. News: Connors . Emma . Reboot . . 2006-11-10 . en.
  19. News: Whyte . Jemima . Why Technology One's Adrian Di Marco will not list on the ASX again? . . 2016-03-02 . en.
  20. News: 8 January 2001 . Brisbane-based software development firm Technology One has appointed its founder and chief executive Adrian Di Marco to the additional role of chairman . 14 . The Courier-Mail.
  21. Web site: About us . aicd.companydirectors.com.au.
  22. Web site: The Royal Children's Hospital Foundation Annual Report 2012 . The Royal Children’s Hospital Foundation. 2019-09-24.
  23. https://pearcey.org.au/2004-qld-award/ Pearcey Awards 2004
  24. https://www.acs.org.au/professionalrecognition/hall-of-fame/Fellows20092010.html ACS Fellows 2009-2010
  25. News: Adhikari . Supratim . TechOne clears the cloud with message of simplicity . 3 February 2022 . The Australian . 18 October 2016.
  26. News: Dinham . Peter . TechnologyOne Foundation sets ambitious goal for 2018 . 15 February 2022 . iTWire . 9 January 2018 . en-gb.
  27. News: Dinham . Peter . TechnologyOne partners with Opportunity International to help children out of poverty . 14 February 2022 . iTWire . 5 September 2018 . en-gb.
  28. News: Moore . Ben . TechnologyOne donates $620K, delivering on Pledge 1% . 14 February 2022 . IT Brief Australia . 22 October 2019 . en.
  29. News: Redrup . Yolanda . TechnologyOne CEO Adrian Di Marco steps down after 30 years . 2 February 2022 . Australian Financial Review . 28 March 2017 . en.
  30. News: Kitney . Damon . Tech boards must find right 'risk and creativity' balance . . 15 December 2019.
  31. News: Redrup . Yolanda . 2017-05-29 . Accounting software start-up Practice Ignition raises $5m from Right Click and Microequities . Australian Financial Review . 2019-07-08.
  32. News: McLean. Asha. TechnologyOne CEO and founder hands reins to current COO. ZDNet. 7 April 2017.
  33. News: Damon . Kitney . Tech boards must find right 'risk and creativity' balance . . 15 December 2019.
  34. News: Kitney . Damon . Learning the 'Frosby Flop' taught boss to aim higher. . 27 April 2019.
  35. News: Redrup . Yolanda . 2018-11-05 . Tech player Fusion Sport jumps to life with TechOne founder funding . Australian Financial Review . 2019-07-08.
  36. News: Bailey . Michael . 2019-03-18 . TechnologyOne founder Adrian Di Marco's 10-year start-up horizon . Australian Financial Review . 2019-07-08.
  37. News: Hurst . Daniel . Emmy winners the brightest in Brisbane . 14 February 2022 . The Sydney Morning Herald . 8 October 2009 . en.
  38. News: Howarth . Brad . Australia's 10 most influential people in tech . 14 February 2022 . SmartCompany . 28 September 2015.
  39. News: Redrup . Yolanda . TechnologyOne's Adrian Di Marco steps down after 35 years . 4 March 2022 . Australian Financial Review . 23 February 2022 . en.
  40. News: TechnologyOne founder Adrian Di Marco to depart as chairman . 4 March 2022 . CRN Australia . 23 February 2022.

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