A board restructure has taken place at AMA Group with a leaner board and reduced board fees to 'align itself with shareholder interests'.

Alex Waislitz’s Thorney Investment Group, owner of 6.8 per cent of AMA Group has achieved its aim of getting Brian Austin appointed Chair of the board and seeing the departure of former board members. Austin has been a Non-Executive Director of the Group since December 2023 and previously served on the AMA Group board of directors from December 2015 to February 2020.

Jo Dawson has been appointed to the board of AMA Group as an independent non-executive director, effective immediately. Dawson is a Chartered Accountant and Fellow of the Australian Institute of Company Directors. She brings deep experience as a Non-Executive Director. Her current Non-Executive Directorships include: Centuria Capital Group Limited; PSC Insurance Group Limited; Vision Super; Bank First Ltd and PetSure (Australia). Her prior roles include senior positions at Deloitte and National
Australia Bank, and Chair of EL&C Baillieu Ltd.
Dawson has been appointed Chair of the Audit and Risk Committee, effective immediately. Brian Austin, Ray Smith-Roberts, and David Goldstein, together with Dawson, will form the Audit and Risk Committee.

Ray Smith-Roberts has been appointed Chair of the People Committee. Smith-Roberts has been a Non-Executive Director of AMA Group since March 2024, and prior to that an Executive Director of the Group from February 2014 to November 2019. Brian Austin, David Goldstein, and Joanne Dawson together with Smith-Roberts, will form the People Committee.

The Board has resolved to abolish the role of Deputy Chair of the Board of Directors.
Austin said, “This is an exciting time for the Group. Our new, leaner Board structure with reduced fees will be a significant cost saving for the Group, while ensuring we have the appropriate skills on the Board. We will also be enhancing our efforts on improving efficiencies within the business. Finally, I welcome Jo to the Board and look forward to her invaluable contributions as a highly experienced Non-Executive Director and Audit and Risk Chair.”

Pure collision repair portfolio

The Group’s Board has endorsed a strategic plan that sees AMA Group operate as a pure collision repair
portfolio business, including associated services.

Under this plan, each business unit (AMA Collision, Capital SMART, Specialist Businesses and Wales) operates with their own brand and offer. The businesses share a common strategic framework and values-based approach to operating. Under this model, each business unit has ownership of all its costs, to drive greater cost discipline and limit central costs.

ACM Parts business is now for sale and the group has appointed Pitcher Partners to advise on its sale.
Group CEO Mathew Cooper said: “I congratulate the entire team at ACM Parts, who have consistently continued to build on record sales results as their range has expanded. AMA Group looks forward to remaining a customer of ACM Parts into the future and seeing it flourish under new ownership.”

Refinancing and Capital Structure

AMA Group continues to pursue a refinancing of the Group’s debt. An update is expected on or prior to
the release of the Group’s FY24 results.

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