BAPCOR LIMITED — Board/Management Information 2022

Feb 7, 2022

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ASX Announcement Bapcor Limited (ASX:BAP)

8 February 2022

Bapcor appoints Noel Meehan as Chief Executive Officer

Bapcor Limited (" Bapcor " or "the Company ", ASX: BAP) has today appointed Noel Meehan as its new Chief Executive Officer ( CEO ), effective immediately. Most recently, Mr Meehan has been the Company’s Acting Chief Executive Officer since 6 December 2021 and before that, Chief Financial Officer since joining the company in 2020.

Executive Chair of Bapcor, Margaret Haseltine said: “ The Board is delighted to confirm Noel’s appointment as Bapcor’s CEO. The Board has invested considerable time and effort in CEO succession. Having completed an extensive global search that included a number of high calibre candidates, we are confident that Noel is the best person to lead Bapcor. In performing his duties as Acting Chief Executive Officer, Noel has ably demonstrated his depth of knowledge, understanding and passion for the business, its strategic opportunity and sustainable success . Noel is energised to simplify and grow the business, is very well placed to deliver on the organisation’s immediate, emerging and long term objectives, and he has garnered the support of the Group Leadership Team on that journey.

Importantly, Noel has proven to have an extremely strong fit with the desired culture and values.

Noel’s career to date has seen him successfully navigate considerable national and international business challenges of great complexity, breadth and scale. Noel has demonstrated an ability to simultaneously drive growth in revenues, margins and return on capital and has been central to strategic plan development and execution. In addition, he has deep capital markets (debt and equity) and international M&A experience.”

Mr Meehan said: “It is an honour to be appointed CEO of Bapcor. My focus will be on the Company’s continued strong performance, being responsive to an evolving external environment and delivering on Bapcor’s future growth opportunity. Having worked with the Board, Group Leadership Team and the broader team as both CFO and Acting CEO, I am excited by the opportunity to lead the company at this stage of its journey and deliver long-term value for all Bapcor stakeholders.”

In accordance with ASX Listing Rule 3.16.4, Bapcor advises the material terms of Mr Meehan’s service agreement below:

	Role	Chief Executive Officer
	Commencement Date	8 February 2022
	Term	No fixed term
	Total Fixed Remuneration (TFR)	Annual Total Fixed Remuneration of $1,073,568(including superannuation) perannum.

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Short Term Incentive (STI)					Maximum opportunity of 100% of Total FixedRemuneration, pro-rated for the period from theCommencement Date to 30 June 2022.Mr Meehan's existing STI opportunity in his roleas Chief Financial Officer for the period to5 December 2021, and as Acting ChiefExecutive Officer and Chief Financial Officer forthe period from 6 December 2021 to 7 February2022, will be pro-rated for each period prior tothe Commencement Date.
Long Term Incentive (LTI)					Maximum opportunity of 100% of Total FixedRemuneration, pro-rated for the period from theCommencement Date to 30 June 2022.Mr Meehan's existing LTI opportunity in his roleas Chief Financial Officer for the period to7 February 2022 will be pro-rated for that periodprior to the Commencement Date.
					as Chief Fina7 February 2
						ncial Officer for the period to
						022 will be pro-rated for that perio
					prior to the C	ommencement Date.
N	otice Period	and Terminati	on		Six (6) montMeehan. The	hs’ notice by the Company or MrCompany may provide Mr	.
					Meehan pay	ment in lieu of notice.
					The CompaMeehan's em	y may immediately terminate Mrployment in certain circumstances
P	ost Employm	ent Restraint			Non-competiof up to 12 m	tion and non-solicitation restraintsonths apply.
	el joined Bapcoup and Treasnance Directo	or on 1 June 2ury Wine Estatr) and Qantas.	020, followes Limited.Noel is a F	ing a successful careeHe has also held exeellow of the Australian		r as Chief Financial Officer at Tollcutive roles at Orica LimitedSociety of Certified Practising
	countants andScience (Honod completed th	a Member of turs) in Matheme Advanced M	he Australiatics andanagemen	an Institute of CompanPlanning and Administt Program as Harvard		y Directors. Noel holds a Bachelorration from the University of LeedsBusiness School.
	nds -thorisation:
	is announcem	ent has been a	pproved b	the Board of Bapcor

Noel joined Bapcor on 1 June 2020, following a successful career as Chief Financial Officer at Toll Group and Treasury Wine Estates Limited. He has also held executive roles at Orica Limited (Finance Director) and Qantas. Noel is a Fellow of the Australian Society of Certified Practising Accountants and a Member of the Australian Institute of Company Directors. Noel holds a Bachelor of Science (Honours) in Mathematics and Planning and Administration from the University of Leeds and completed the Advanced Management Program as Harvard Business School.

- Ends -

Authorisation:

This announcement has been approved by the Board of Bapcor.

For further information :

Scott Elliott +61 3 8470 7349 scottel@bapcor.com.au