Develop with confidence – new direction for 2017
Media Statement
Press embargo 1800 WST

27 October 2017

Veris expand commitment with the Cycling Development Foundation

Veris and the Cycling Development Foundation (CDF) are pleased to announce the expansion of our joint commitment to cycling in WA.

Building on the existing partnership with the OTOC Vault Men’s team, Veris (Previously OTOC limited) has agreed to undertake a new agreement that shall see an expanded commitment to both Men’s and Women’s racing pathways, plus the CDF Junior Development program.

This agreement represents a significant endorsement of the racing development program created under OTOC and Nicheliving Vault and is reward for the hard work and dedication from all partners involved in the creation and implementation of this community-based racing initiative.

Veris CEO Simon Thomas is enthusiastic towards this developing relationship.

“Veris is committed to our impact on communities and actively sought an initiative that we believe will make a difference. We are excited about the direction of the Foundation and its ambition to create a premier cyclist development structure that links the sport to riders and the sport to corporate and community sectors through the promotion of cycling. We fully support the long term aim of developing elite sportspeople into outstanding future role models, leaders and citizens.

“The Foundations’ values are aligned to that of Veris. Our Company promotes itself as an organisation that allows our partners to ‘Develop with Confidence’. This philosophy is clearly aligned with that of the Foundation.” said Mr Thomas.

Chairperson of the Cycling Development Foundation, Associate Professor Craig Pennell, said the announcement was exciting for the future of cycling in Australia and would provide opportunities for many up and coming juniors, as well as promote diversity and equality in cycling.

“Our program is about providing new opportunities and resources for athletes who want to pursue racing ambition. The support of forward thinking corporate partners like Veris makes this possible,” said Dr Pennell.

Dr Pennell said athletes selected for the development pathways would need to fulfill community obligations and show strong leadership and ethics, on and off the bike.

“The development program will focus on team work, behaviours, obligations, commitment and leadership as much as physical development and results,” he said.

The CDF will implement positive initiatives to redress the lack of female diversity in cycling. Thanks to Veris’s increased commitment, the CDF will be able to reach out to hundreds of female riders. These initiatives will extend through to include the junior riders as well.

The timing could not be more appropriate, in line with this new direction for cycling in WA, OTOC shall be re-naming its organisation to reflect its growth and presence in the Australian Survey Industry. In November 2016, OTOC seeked approval from shareholders to update their company name to Veris Limited. Once this was approved, the change was applied to the commitment with the CDF to create the Veris Racing Team.

For more information about the Cycling Development Foundation, visit


Melissa Robinson
Cycling Development Foundation 0403 953 162