Insiders say independent director appointments are sign software firm plans to go public.
Software company Gentrack has appointed Graham Shaw and Andy Coupe as independent directors in what insiders say is a sign it is progressing towards a listing on the NZX.
Gentrack, which develops specialist software for energy utilities, water companies and airports around the world is understood to be considering a full listing on the NZX within months.
One source said the inclusion of the two "heavy hitters" on the board showed the company was keen on proceeding with an initial public offer and share market float.
Coupe has extensive commercial and capital markets experience and is a former investment banking consultant at UBS New Zealand, Gentrack said.
He is deputy chairman of the New Zealand Takeovers Panel, chairman of dairy farm investment specialist Farmright, a director of NZX-listed investment funds Kingfish, Barramundi and Marlin Global, and a director of Solid Energy.
He is also a member of the Institute of Directors and the Institute of Finance Professionals.
Shaw is a chartered accountant who works as an adviser to boards and senior management. He is a director of listed software developer Xero and a former chief executive of Works Infrastructure.
Shaw has also been chief executive of Kensington Swan, one of New Zealand's national law firms, and was a business adviser with KPMG.
Auckland-based Gentrack employs 180 people in offices in Auckland, Melbourne and London and serves more than 150 utility and airport sites in 20 countries.
The company this month signed up LoCO2 Energy, a British low-carbon electricity supplier.
LoCO2 will use a specialised customised billing and customer relations management system used by utilities in Australia, New Zealand, Ireland and the UK.
Gentrack has also signed Bristol Airport for its Airport 20/20 operational management system.
Over the past 12 months, Gentrack has signed Sembcorp - formerly Bournemouth Water - as a customer and has added Birmingham and Newcastle airports to its customer list.
Other airport customers include London City, Leeds/Bradford, Hong Kong, T1 at JFK International, Newark, Sydney, Melbourne, Auckland, Wellington and Christchurch.
Gentrack's board now comprises chairman John Clifford, executive director James Docking, and independent non-executive directors Leigh Warren, Coupe and Shaw.
• Auckland-based Gentrack develops specialist software for energy utilities, water companies and airports around the world.
• It employs 180 people in offices in Auckland, Melbourne and London.
• The company serves more than 150 utility and airport sites in 20 countries.