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AMA GROUP LIMITED — Board/Management Information 2021
Jan 31, 2021
64372_rns_2021-01-31_e7ca505c-3872-463a-a229-b32754278ab7.pdf
Board/Management Information
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1 February 2021
AMA Group appoints Carl Bizon as Chief Executive Officer
The Board of AMA Group (ASX: AMA) has today appointed Carl Bizon as Chief Executive Officer having accepted the immediate resignation of Mr Andrew Hopkins.
Company Chair Anthony Day said: “The Board is pleased to announce the appointment of Carl. Carl is a proven senior executive with extensive leadership skills and experience to successfully lead the business to its full potential. Having been a non-executive director of AMA since February 2019, Carl knows the business well and it will allow a seamless leadership transition.”
Carl Bizon said: “I am excited to be joining the business as Chief Executive Officer. As a member of the Board over the past year, I have developed a thorough understanding of the business. The business is well positioned to capitalise on growth opportunities, despite the uncertainty created by the pandemic. I look forward to working with the AMA leadership team to deliver continued growth and development of the business”.
A summary of the key terms of Carl’s employment contract is included in the attached annexure.
Immediate Exit of Mr Hopkins
Having resigned as Chief Executive officer on 31 January 2021, and under the terms of Mr Hopkins’ employment contract, Mr Hopkins is required to immediately resign from the Board of the Company. The Board expects to receive notice of his resignation from the Board forthwith.
Mr Hopkins resignation follows an independent investigation into his conduct by McGrath Nicol. The Company has begun a formal process to recover a sum approximating $1million.
This announcement has been approved by the Directors of AMA Group.
ENDS.
ABN 50 113 883 560
AMA GROUP LTD 130 Bundall Road, Bundall QLD 4217
Phone: (07) 5628 3272 Email: [email protected]
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Annexure
| Annexure | |
|---|---|
| Remuneration | Gross Salary of $900,000 (TFR) per annum(inclusive of SGC) |
| Short-Term Incentive | Short-term incentive of 50% of TFR, subject toachieving agreed company performance targetsand Board discretion |
| Long-Term Incentive | Participation in the Long-Term PerformanceRights Plan of the Company at 150% of TFRsubject to achieving measurable marketstandard long-term performance indicators asdetermined by the Board from time to time |
| Term of Appointment | Ongoing appointment |
| Termination | By Carl or the Company, at any time with 6months’ noticeCompany may terminate immediately for cause |
| Post-employment restrictions | A 2 year non-compete and non-solicitationperiod, post-employment applies |
ABN 50 113 883 560
AMA GROUP LTD 130 Bundall Road, Bundall QLD 4217
Phone: (07) 5628 3272 Email: [email protected]