Adrad Holdings Limitedp announces that consistent with the announcement made on 1 February 2023 Mr. Don Cormack will end his tenure as Chief Executive Officer (CEO) effective 15 August 2023; Mr. Darryl Abotomey will commence as interim CEO effective 15 August 2023; Mr. Cormack will provide a short handover and transition to Mr. Abotomey; its search process continues for a new CEO. Mr. Abotomey will remain as a Director of the Company. Mr. Abotomey has over 40 years of in-depth executive leadership and financial expertise across the manufacturing, global paper and packaging distribution and automotive aftermarket industries.

Additionally, his experience transverses business acquisitions and restructuring, strategy, finance, information technology, general management in distribution and product launching. Mr. Abotomey is the former Managing Director and CEO of Bapcor. During his 10-year tenure, he was instrumental to the successful growth and expansion of the business, including expanding the businesses base and growing it internationally.

Prior to Bapcor, Mr. Abotomey held various roles across a number of businesses including as a Board Director and Chief Financial Officer of PaperlinX Ltd, as Chief Financial Officer and Chief Operating Officer of Exego Group (Repco), Chief Financial Officer of Amcor's USA subsidiary Sunclipse, Regional and Group General Manager of Amcor Fibre Packaging and Amcor Printing Papers Group in Australia. He has also previously held directorships with The Signcraft Group, CPI Group Limited and Pinegro Products Pty Ltd. Mr. Abotomey is currently a Director of K-Tig Ltd.