AMA Group outgoing chief Carl Bizon has used his last AGM and day on the job to outline the progress the company has made in some tough years.
The appointment of new board members, a cut to director fees and an overview of challenges and achievements were some of the other business covered at the annual general meeting on November 23.
The establishment of the massive parts facility at Hemmant in Queensland, the conversion of Arundel into a new customer focussed repair centre and the employment of 373 apprentices across the group were some of the highlights Bizon outlined to shareholders for the 2023 year.
In his address to the AGM, CEO Bizon also highlighted what the AMA Group team had achieved in his tenure as the CEO including establishing a new leadership team and improving governance and substantially improving safety across the business.
He said the AMA Group had developed an industry leading apprenticeship programme and substantially improved team member satisfaction.
He also highlighted that they had restored profitability after the difficult COVID 19 era.
The AMA Group has enjoyed a good first quarter of 2023/24 but this has come off the back of consecutive annual losses and not paying shareholder dividends for two years.
READ MORE: AMA Group ‘outperforms’ in first quarter as repair revenue climbs and new projects flagged.
“It has been a privilege to serve as a CEO of this business. It has been a challenging but also rewarding experience. I am exceptionally proud of everything that has been achieved. And I look forward to seeing the company evolve into its next phase under new leadership,” Bizon said in his statement of address to shareholders.
“In closing, I would like to thank the board, the AMA Group team who are at the heart of everything we do, our insurer fleet and other partners, our end customers and our shareholders for their ongoing suppor.,”
Chair Caroline Waldron in her address said the progress toward finding a replacement was progressing to plan and expected an appointment within weeks.
“We are at the final interview stage now and expect to land on a preferred candidate and finalise arrangements within the next few weeks,” Waldron told shareholders.
“With a well-established management team in place and guidance from the board. We are confident that leadership and operational teams will continue to deliver solid results for the business during this process.”
One of Waldron’s other priorities since taking over as chair in August was to establish a functioning “fit-for-purpose’ board and the AGM heard about the appointment of two new directors, Kim Stewart Smith who will take on the role of the audit committee chair and Brian Austin both of whom will start on December 1 2023
“Both Kim and Brian are experienced ASX directors and will complement the skill set of existing directors,” she said.
Waldron also outlined the reduction in payments for the board including a $50k cut to her own director’s fees to $225,000 from 1 November this year and a $20k reduction to other board members to $100,000.
Chair Caroline Waldron outlined her vision for the company to NCR here; The Way Ahead for Australia’s largest repairer