AMA Group Limited announced Board and Management changes, unrelated to the work which is ongoing regarding the proposed equity capital raising. Consistent with the Group's succession planning, 1 September 2023, after nearly five years on the Board, Anthony Day has retired as Chair and Non-Executive Director of AMA Group, and Paul Ruiz has retired as Chair of the Audit and Risk Committee and Non-Executive Director. Carl Bizon will retire as Executive Director and Chief Executive Officer at the Group's 2023 Annual General Meeting on 23 November 2023.

This transition follows an incredibly challenging few years for both the collision repair industry and the Group. Over this period, the Group has undertaken huge transformation, which has driven a significant improvement in governance and the professionalization of the Group. AMA Group has endured the significant impacts of COVID-19 and led the industry in achieving price increases with insurer customers to address the significant impact of inflation and damage severity over recent years.

The operations of the business are poised for the next phase. The timing is right for new leadership to realise the potential of the Group and capitalise on these strong foundations. Independent Non-Executive Director, Caroline Waldron, has stepped into the role of Chair of the Board of AMA Group.

Caroline is a lawyer by training and a skilled Non-Executive Director with extensive commercial and governance experience gained from listed and blue-chip entities in Australia and New Zealand. She has been a member of the AMA Group board since 1 March 2022. Current AMA Group Independent Non-Executive Director, Talbot Babineau has been appointed Deputy Chair, as the Group seeks to leverage his deep understanding of North American collision industry best-practice.

Simon Moore has become Chair of the Audit and Risk Committee. Kyle Loades is continuing in his role as Chair of the People Committee. The Board will review its composition and skills before commencing Non-Executive Director recruitment, to ensure a fit-for-purpose Board which will support the Group as it pursues the opportunities that lay ahead.