The Directors of CSG Limited have determined that for the Company's strategic transformation program and growth strategy "CSG 2021" to be best implemented, a change of leadership is required. As a result, Mark Bayliss, CSG's Chairman and Executive Director, has been appointed Acting CEO & Managing Director, and has stepped aside from the Chairman's role. Once "CSG 2021" is further progressed, the Board will undertake a selection process for a CEO & Managing Director.

Julie-Ann Kerin has stepped down from the role of CEO & Managing Director and has resigned as a Director of the Company, effective immediately. Bernie Campbell has been appointed Independent non-executive Chairman. Prior to joining the CSG Board, Mr. Bayliss was the CEO of Grays eCommerce Group, transforming and growing that business, significantly increasing revenue and EBITDA.

Prior to that Mr. Bayliss was the CEO of Quick Service Restaurant Holdings where he developed a business-wide growth strategy for a national fast food chain, and before this a Partner at Anchorage Capital, a private equity fund specialising in the turnaround of underperforming businesses, as well as CFO roles at Australian Discount Retail and Fairfax Media. Mr. Bayliss will be employed as Acting CEO & Managing Director on equivalent terms to those that previously applied to Ms Kerin, other than Mr. Bayliss' existing Performance Rights that will remain unchanged.