YBR appoints Matt Lawler as CEO
Yellow Brick Road (YBR) is moving to establish itself as a force the market with the appointment of a new chief executive, while at the same time formalising its strategic alliance with Nine Entertainment Group.
YBR has appointed former executive general manager for NAB Broker, Matt Lawler (pictured), as chief executive – with the main aim of facilitating the company’s rapid growth plans.
Lawler has over two decades of experience in financial services, and has held senior positions with MLC and NAB, as well as directorships at Godfrey Pembroke, the Financial Planning Association and the Mortgage and Finance Association of Australia.
YBR has also announced its strategic alliance with Nine Group looks set to go ahead. The deal will see Nine take a 19.9 per cent share in the company worth almost $13 million through its subsidiary Pink Platypus.
Half of the shares will be paid for by a cash settlement, while free advertising will be provided for the other half across Nine’s television stations, magazine platforms and on the Ticketek platform over a five-year period.
The proceeds from the issue of shares will enable YBR to continue its branch network expansion more aggressively, as well as provide YBR with an advertising platform to enhance the growth of the company’s brand, a statement said.
Nine has also been issued with a series of performance options, which if exercised, will give Nine an additional 5 per cent share of YBR on a fully diluted basis. This is intended to motivate Nine to give maximum value for the free advertising, YBR stated.
The agreement is still subject to shareholder approval, and it is expected that a shareholder meeting will take place before 31 August, 2011.
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