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In accordance with ASX Listing Rule 3.16.1, Yellow Brick Road Holdings Ltd (ASX:YBR) advises that Tim Brown, CEO – Lending, will be stepping down from his position in the company effective 31 December 2016.
Executive chairman Mark Bouris said the role will not be replaced and the two existing roles of general manager for the Yellow Brick Road and Vow Financial networks respectively will become more responsible for growing and driving productivity in the lending division.
“In line with the previously announced restructure of corporate operations this year, senior managers and I have been adopting additional responsibilities, with a major focus on achieving efficiencies and network productivity,” Mr Bouris said.
“The appointment of new personnel to the existing general manager roles has begun with the announcement of Andrew Rasby as the General Manager - Lending (Yellow Brick Road). The appointment of a new General Manager - Lending (Vow Financial) will be announced in due course.”
“Our establishment phase is nearing completion and we have a clear strategy to increase productivity and conversion in our networks. Deepening the responsibility for two very hands-on general managers to drive those networks forward makes good sense for this stage of our business growth,” Mr Bouris said.
Mr Bouris thanked Mr Brown for his contribution to the company over two years and wished him well for the future. Mr Brown joined YBR as a result of the 2014 acquisition of Vow Financial.
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Lyndsey Douglas - External Affairs
Yellow Brick Road Holdings Limited