Zimi (ASX: ZMM) has named Simon Gennari as its new Independent Non-Executive Chair, closing a search that began after the previous chair left mid-year. The Australian technology company makes smarter electrical devices for the home and has built its product strategy around Matter, the connectivity standard now backed by Amazon, Apple, Google and Samsung.

Zimi confirmed the appointment took effect on 7 October 2026. Gennari replaces Simon Beissel, who stepped down as chair and director on 30 June 2026, which left the board without an independent chair for just over three months.

A Chair With Capital Markets Credentials

Gennari currently leads the M&A and Capital Markets practice at Findex and sits on a global Corporate Advisory Committee for Crowe Global. He brings more than 25 years across investment management, corporate finance, strategy and equity research in Europe and Australia.

His portfolio work spans financial services, healthcare, industrials, technology, resources, manufacturing and retail. On the corporate finance side, he has handled restructurings, capital raisings and strategy for both listed and private businesses. He has also served on ASX-listed boards and private company advisory boards, and holds CFA and FINSIA credentials.

Paid Mostly in Shares

Gennari’s director fees come to $75,000 a year. Just $25,000 of that, plus GST, is paid in cash. The other $50,000 arrives as fully paid ordinary shares, so two-thirds of his pay moves with the company’s fortunes.

For the initial period running to 31 October 2027, the shares will be issued at $0.004 each. An Appendix 3B lodged alongside the announcement puts the maximum issue at 13,340,054 shares. Fees beyond that first year will be priced by the board against the market at the time.

Shareholders Get the Final Say

Because Gennari is a director, the share issue needs approval under ASX Listing Rule 10.11. ZMM will put it to shareholders at its Annual General Meeting on 27 November 2026, which is also the proposed issue date. Once issued, the shares will sit in voluntary escrow until 31 October 2027.

There is no fixed term for the role. As a board appointee, he must also stand for election at the next AGM under Listing Rule 14.4. His initial director’s interest notice shows no current holding in the company, so these shares would be his first stake.

How Big Is the Issue?

The new shares would add roughly 1.2 per cent to the 1,149,837,031 ordinary shares already on issue. That is a modest slice for a board-level pay package, and it replaces cash the company would otherwise spend.

Escrow also matters here. Locking the shares away for about a year means the incoming chair cannot sell early, which keeps his interests tied to shareholders through the first full year of his tenure.

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A Board Built for Oversight

After the change, ZMM has four directors: Gennari as independent chair, Jordan Tentori as CEO and executive director, and Simon Gerard and Todd Milliner as non-executive directors.

Tentori described Gennari as “the right person for Zimi” and said strong independent governance is fundamental for any ASX-listed company. Gennari said his focus would be sound governance and independent oversight, and he pointed to the company’s Matter strategy as the reason he is excited about the road ahead.

Where the Shares Sit

Over the past 52 weeks, ZMM has traded between $0.003 and $0.009. The $0.004 issue price sits near the lower end of that range, so the chair’s first-year shares are priced close to recent lows rather than at a premium. ZMM did not give a market reaction in its release, and the longer-term picture will depend on how the Matter-led product push converts into sales under the new board.

source: Reuters.com