Smartgroup Corporation Ltd. announced that Deven Billimoria has informed the Board of his intention to retire from the role of Managing Director and Chief Executive Officer at the end of February 2020 after the release of the full year 2019 full year results. Mr. Billimoria has been with the organisation for more than 19 years, having joined in 2000 and being appointed CEO in 2002. The Board of Smartgroup is announced that Tim Looi, who joined Smartgroup in 2009 and is the current Chief Financial Officer, will be appointed to the role of Managing Director and Chief Executive Officer effective from the retirement of Mr. Billimoria.

The details of the new terms of employment of Mr. Looi will be disclosed in due course closer to the date at which the appointment is effective. Smartgroup has commenced a search process for a new Chief Financial Officer.