Mr. Wal Pisciotta has relinquished his position as Chairman of the Board of carsales.com Ltd. as a result of increased personal commitments, remaining on the Board of the company as a non-executive director. With due notice the Board gave careful consideration to the most appropriate replacement for Mr. Pisciotta, and concluded to appoint Mr. Jeffrey Browne as Chairman of the Board. Mr. Richard Collins continues in his role as Deputy Chairman.

Mr. Browne's extensive automotive experience including his current role as Chairman of Holden Special Vehicles, as well as his media, online, entertainment, commercial and legal expertise is unique and provides a background that is an ideal fit with carsales.com Ltd.