AnteoTech has appointed Merrill Gray as its new Managing Director and CEO following a successful interim period, while issuing over 22 million shares to staff under its FY2025 incentive program.
- Merrill Gray appointed full-time MD & CEO after interim role
- FY2025 staff performance review leads to 22.15 million shares issued
- CEO contract includes $440K base salary plus $30K superannuation
- 30 million CEO options proposed, subject to shareholder approval
- Board awards CEO $19,000 cash STI for interim leadership period
Leadership Transition
AnteoTech Ltd (ASX, ADO) has confirmed the appointment of Ms Merrill Gray as Managing Director and Chief Executive Officer, effective 19 August 2025. This follows her four-month tenure as interim MD & CEO, during which she demonstrated a clear commitment to advancing the company’s commercialisation strategy. The Board expressed confidence in her pragmatic leadership style and global experience, particularly in battery technologies and decarbonisation sectors.
Ms Gray’s Extensive Industry Background
Ms Gray brings a diverse and robust background spanning mining engineering, advanced materials, and energy technologies. Her career includes senior roles at Western Mining Corporation and founding leadership at Syngas Limited and BioSyngas Ltd. More recently, she has been involved in battery materials and hydrogen energy projects with companies such as Livum Australia and Neometals Ltd. Her technical expertise and commercial acumen position her well to steer AnteoTech through its next growth phase.
Incentives and Remuneration
The company’s announcement detailed Ms Gray’s employment terms, including a base salary of A$440,000 plus superannuation and up to A$20,000 in relocation expenses. Notably, she has been offered a one-off performance incentive comprising 30 million options, structured in three tranches with escalating share price hurdles and vesting over three years. These options are designed to align her interests with long-term shareholder value creation, pending shareholder approval at the upcoming AGM.
Staff Performance and Share Issuance
Alongside the leadership update, AnteoTech completed its FY2025 staff performance review, awarding approximately 22.15 million ordinary shares valued at around A$316,000 under its Short-Term Incentive Program. This equity-based reward reflects 59% achievement of key performance indicators across the organisation amid a period of restructuring and operational focus. The Board also granted Ms Gray a cash STI payment of A$19,000 for meeting 100% of her interim MD & CEO KPIs.
Looking Ahead
AnteoTech’s Board and management appear focused on leveraging Ms Gray’s expertise to accelerate commercial opportunities for their advanced battery and life sciences materials. The company’s upcoming Annual General Meeting will be pivotal, as shareholders consider the proposed CEO option grants and the broader strategic direction. Investors will be watching closely to see how these leadership and incentive changes translate into market performance and shareholder returns.
Bottom Line?
With Merrill Gray at the helm and fresh incentives in place, AnteoTech is poised for a critical phase of commercial execution and shareholder value creation.
Questions in the middle?
- Will shareholders approve the CEO’s 30 million option grant at the AGM?
- How will AnteoTech’s share price perform relative to the option vesting hurdles?
- What specific commercial milestones will Ms Gray target in her first year as full-time CEO?