SYDNEY, AUSTRALIA: Cash Converters International Limited (ASX: CCV) advised that Mr Jason Kulas will step down as Non-Executive Director and Chairman with effect from 1 April 2022.
Mr Kulas was appointed to the Board and as Chairman in August 2020 as a nominee of major shareholder EZCORP, Inc., pursuant to the Subscription Agreement dated 17 August 2009. Further information about the Subscription Agreement is set out below. At the time of his appointment, Mr Kulas was Chief Executive Officer of EZCORP. He resigned from that role in January 2022.
Mr Timothy Jugmans, who will replace Mr Kulas as an EZCORP nominee director, has been appointed as Non-Executive Director and Chairman effective from 1 April 2022.
Mr Jugmans is the Chief Financial Officer of EZCORP. He joined EZCORP in December 2016 as Vice President, Treasury and M&A, having served as a consultant performing similar duties since March 2015. Mr Jugmans has 25 years of experience providing strategic and financial services and advice for a variety of companies, including seven years with Lexicon Partners Pty Limited, an independent corporate advisory and consulting firm based in Sydney.
The Board thanks Mr Kulas for his service and leadership, and welcomes Mr Jugmans. The Company also welcomes the appointment of Ms Sue Thomas as independent non-executive director with effect from 1 April 2022.
Based in Perth in Western Australia, Ms Thomas has over 30 years’ experience in the financial services and information technology sectors, having founded and acted as Managing Director of FlexiPlan Australia Limited, which was subsequently sold to MLC/NAB.
Ms Thomas is an experienced company director and risk committee chair with expertise in technology and law who is currently a director of ASX listed companies Temple and Webster Group Limited, Fitzroy River Corporation Limited and Nuix Limited. Ms Thomas holds a Bachelor of Law and Bachelor of Commerce from the University of New South Wales and has received a diploma from the Australian Institute of Company Directors.
Mr Sam Budiselik, Managing Director of Cash Converters, welcomed Ms Thomas to the Board, stating “Sue’s extensive corporate experience and legal expertise was specifically sought to complement the Company’s Board. In addition, the appointment of a fourth independent director ensures the Company has the right mix of skilled Board members to continue to oversee the execution of a disciplined growth strategy on behalf of shareholders”.
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