ThinkSmart Limited announced the formal appointment of current nonexecutive director Mr. Fernando de Vicente to the position of fulltime Chief Executive Officer of the company. Effective January 1, 2015 Mr. de Vicente will be based in London and will assume the role of CEO from Mr. Keith Jones, who is concluding his transitional period as CEO post the Group's sale of its Australian and New Zealand operations for $43 million, which settled on January 31, 2014. Mr. Jones will continue with ThinkSmart in the capacity as Executive Director for Group Strategy and Development.

He will operate on a part-time basis from April 2015 after a three month CEO transition. Mr. Steven Penglis, being an Independent Nonexecutive Director of the company since July 2000, and Chairman until 2007, has notified the Board that he will retire as a Director, effective from the end of the 2014 Annual General Meeting scheduled for November 26, 2014. Independent Nonexecutive Director Mr. David Griffiths will fulfil the role of Chairman for both the Audit and Risk Committee and the Remuneration Committee until further appointments are made.