AMA Group has announced that Mat Cooper has left the company and non-executive director Ray Smith-Roberts has been appointed in his place to take the role of managing director.
The company says that over the last nine months AMA Group has successfully transformed its balance sheet and cites key milestones:
- Completing of capital raise and debt extension
- Refinancing banking facilities on improved terms
- The repayments of $50m of convertible notes
- The expansion of the relationship with Suncorp
Ray Smith-Roberts has a long history with AMA Group dating back to 2009 when he worked alongside Ray Malone, a former AMA Group CEO. The ASX announcement states that the next stage of AMA's turnaround is to focus on further improving the performance of its operations, specifically AMA Collision division. The announcement says: "He (Smith-Roberts) has a proven track record for extracting efficiency and performance improvements from businesses in this sector including panel repair."
The board offered its thanks to Cooper for his contribution over the past 16 months.