AHG chairman Branchi retires

Robert Branchi will retire from the board of Automotive Holdings Group (AHG) on 19 November, 2010, to be replaced by former Macquarie Bank executive David Griffiths.

Mr Branchi has been involved in the group for many years and was the company's previous managing director prior to taking a non executive position in 2005.

Mr Branchi will continue his involvement with AHG as a substantial shareholder on his retirement.

His replacement Mr Griffiths was appointed to the AHG board three years ago and has been deputy chairman for two years.

Mr Griffiths is currently non executive chairman of Northern Iron and deputy chairman of ThinkSmart

See company statement below:

At today's board meeting, Chairman, Mr Robert Branchi, announced his intention to retire from the Board of Automotive Holdings Group (ASX: AHE) at the conclusion of the Company's Annual General Meeting to be held on 19 November 2010.

Mr Branchi has been involved in the Group for many years and was the Company's previous Managing Director prior to taking a non executive position in 2005. Mr Branchi will continue his involvement with AHG as a substantial shareholder on his retirement.

The Board and management wish to pay tribute to Mr Branchi for his extraordinary leadership.

He has made an outstanding contribution to the success of the Company and creation of shareholder wealth through his strategic vision and dedicated, tireless service.

As part of its ongoing succession planning process, the Board is pleased to announce the appointment of Mr David Griffiths as Chairman elect to assume the position of Chairman on Mr Branchi's retirement.

Mr Griffiths was appointed to the AHG Board three years ago and has been Deputy Chairman for two years.

Mr Griffiths has extensive board experience and is currently non executive Chairman of Northern Iron Limited and Deputy Chairman of ThinkSmart Limited. He also has 20 years experience in equity capital markets, mergers and acquisitions and the corporate advisory sector having been Divisional Director of Macquarie Bank Limited and Executive Chairman of Porter Western Limited.

In reflecting on his time with AHG, Mr Branchi said that it was pleasing to observe the Company's growth and see it develop into one of Australia's leading forces in the automotive industry.

"I believe that I am leaving the Company at a time when it is in very good shape to continue on its growth path.

"I have been fortunate to have worked with so many dedicated and talented people over the years, be they Board members, AHG management or staff working in our Automotive and Logistics businesses.

"I am pleased to hand over to David Griffiths. David's board experience and capital market experience is impressive and he has a very good understanding of AHG's business and what is required to continue its success," he said.

Mr Griffiths commented that Mr Branchi has made an immense contribution to Automotive Holdings Group.

"From my time serving on the AHG Board, I fully appreciate that the success of AHG is founded upon its disciplined business model and its strong performance driven culture. It is important that the Company maintains and develops these attributes to capitalise on the changes and growth opportunities that lie ahead. I look forward to working with the Board and management in my new role as Chairman to support them to maximise the returns on shareholders and the benefits to all of our customers, business partners and employees.

"Our Chairman, Mr Bob Branchi, has made an outstanding contribution to AHG both as an executive and as a non executive director over a long period of time. Bob has left his mark on AHG which is now embedded in the culture and discipline of the Company. The Board has greatly benefited from Bob's contribution and the experience that he has brought to the Board table.

"We thank Bob most sincerely for his tremendous contribution to the success of AHG and wish him well in his retirement," said Mr Griffiths.