SYDNEY, AUSTRALIA: Boom Logistics Limited (ASX: BOL) announces that after over four and a half years as Chief Executive Officer & Managing Director, Mr Tony Spassopoulos will step down.

Boom’s Chief Operating Officer Ben Pieyre will assume the role of Interim CEO, effective 15 February 2023. To ensure a smooth transition, Mr Spassopoulos will remain available to assist Mr Pieyre and the management team. His last day with Boom will be 14 August 2023.

Mr Spassopoulos joined Boom in October 2008 and was the Chief Operating Officer from 2017. He was appointed as CEO & Managing Director in September 2018.

Boom’s Chair, Mrs Melanie Allibon, said “On behalf of the Board, I would like to thank Tony for his service to Boom Logistics over the past fourteen years, including his four and a half years as Chief Executive Officer. Tony has contributed greatly to Boom Logistics through his leadership during a period of restructuring and rebuilding (including amidst the COVID-19 pandemic) whilst significantly reducing debt. We wish him every success in the future and recognise his commitment to a smooth leadership transition.”

“It has been an honour to lead Boom for the past four and a half years and to be a part of this company since 2008. I am proud of what we have accomplished in that time. It has been a privilege to work with a committed leadership team and dedicated employees across all parts of the business who share a strong customer focus and safety culture. I am proud to be leaving Boom poised for the next stage of its growth” said Mr Spassopoulos.

Mrs Allibon said “Ben has been with Boom since 2019 and most recently as Chief Operating Officer. He has extensive experience in the crane, civil construction and industrial service sectors.

Ben has participated directly with the Board during his time with Boom Logistics. His experience, people skills and commitment to Boom means he is well placed to serve as Interim CEO.”

To provide continuity and ongoing support alongside the management team, Non-Executive Director Kieran Pryke will have increased involvement in the business during the transition period.

Mr Pryke was appointed to the Board on 8 February 2021 and has over 25 years’ experience in the property industry. He has been Chief Financial Officer of General Property Trust, following nine years in Lendlease Corporation’s construction, development and investment management divisions, and of Australand Property Group and Grocon Group.

Mr Pryke has a Bachelor of Commerce (Accounting) and is a Fellow of CPA Australia. In recognition of his increased time commitment, Mr Pryke will receive additional director fees of up to A$15,000 per month during the transition period.

A comprehensive internal and external search for a new CEO will commence. A permanent appointment is expected to be made later in 2023.