CAR GROUP LIMITED — Board/Management Information 2018

Nov 26, 2018

==> picture [159 x 23] intentionally omitted <==

carsales.com Ltd appointment of Chair and Director retirement

Melbourne, 27 November 2018

Today carsales.com Ltd (carsales) announces that following an extensive search it has appointed Mr Pat O’Sullivan as Chair of its Board of Directors.

Following Mr Jeffrey Browne’s retirement from the carsales Board in March 2018, the company announced its search for a new Chair. During the interim period, the company’s Deputy Chair Mr Richard Collins assumed Chair responsibilities and oversaw the process for appointing a new Chair.

The Board undertook a global search process. Mr Collins stated “We were extremely impressed by the range of candidates. carsales was extremely fortunate to have such an outstanding candidate on its Board as Pat O’Sullivan, whom the Board has unanimously endorsed to assume the position of Chair”.

Mr O’Sullivan has been a Director of carsales since 2007 and the Chair of its Audit and Risk Management Committee since 2008. His experience includes senior executive positions at SingTel Optus, PBL Media and Nine Entertainment Co and extensive Board experience at companies including APN Outdoor and iSentia.

carsales’ CEO and Managing Director, Cameron McIntyre said “I am looking forward to working even more closely with Pat in his new role as Chair of the Board. Pat’s thoughtful counsel has been of huge value to me as CEO, and I expect the company to continue to flourish further under his guidance as Chair.”

Mr O’Sullivan says of the appointment “It is an honour to be appointed as the Chair of carsales. I am looking forward to continuing to work closely with Cameron, his executive team and my fellow board members as Chair. carsales has a very prosperous future and I will continue to work hard on supporting the business to achieve its strategic objectives and on maintaining the trust of all our stakeholders.”

With the appointment of Chair finalised, Mr Collins has provided notice of his retirement effective 4 January 2019. Mr Collins has been a director of the company since 2000, acting as Deputy Chair for the majority of that time.

Mr McIntyre stated “The Board is very grateful to Richard for his efforts in chairing the Board during these critical months and so passionately searching for a new Chair for carsales. We wish him the best for his retirement and thank him for the service, friendship and guidance he has provided the carsales Board over the past 19 years.”

“I would like to thank Richard for his outstanding contribution in helping carsales become the international car classified business it is today operating in 11 countries.” said Mr O’Sullivan.

Mr Collins said “It has been a great honour and a privilege to have been a part of such a fantastic company as carsales for the past 19 years. I look forward to following the company’s continued success and remaining in touch as both a customer and shareholder.”

With Mr O’Sullivan becoming Chair of the Board, he has stepped down from the Audit and Risk Management Committee and a number of outside Boards to focus on his new role.

For further information, please contact:

Cameron McIntyre CEO and Managing Director 03 9093 8667