On the Money

On the Money: Eroad, the Warehouse, Chris Castle and more

Victoria Young
Sat, 16 Apr 2022

On the Money: Eroad, the Warehouse, Chris Castle and more
Steven Newman has left Eroad. (Image: Supplied)
Victoria Young
Sat, 16 Apr 2022
How to lose $16m in a weekEroad founder Steven Newman’s exit came out of the blue, stunning investors who sent the share price tumbling near a two-year low.For Newman himself, the decision to abruptly walk away comes with a hefty price tag: his $737,000 salary was almost twice the $389,000 he pocketed in Eroad’s first year as a public company. Newman’s 15% stake in the fleet management company was worth $41.8 million at the end of trading on Wednesday, having been worth $57.6m before the Friday reveal. Havi...

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