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The Agency Group (ASX:AU1) - Incoming CEO, Geoff Lucas
Incoming CEO, Geoff Lucas
Source: Domain
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  • The Agency Group (AU1) has appointed Geoff Lucas as Group CEO, effective from March 29
  • The appointment comes with a salary package of $550,000 per annum and 30 million unlisted options to acquire fully paid ordinary shares in the company’s capital
  • Geoff Lucas comes with significant executive experience across a number of industries, including two periods with real estate company McGrath, where he worked with AU1’s current Real Estate CEO
  • The Agency Group shares are trading flat at 5.5 cents

The Agency Group (AU1) has appointed Geoff Lucas as Group CEO, effective from March 29.

The appointment comes with a salary package of $550,000 per annum including superannuation, plus 30 million unlisted options to acquire fully paid ordinary shares in the capital of the company.

This involves 10 million unlisted options exercisable at 5 cents each, 10 million unlisted options at 7.5 cents each and 10 million at 10 cents each.

Geoff Lucas comes with significant executive experience across a number of industries, including two periods with real estate company McGrath, where he worked with AU1’s current Real Estate CEO, Matt Lahood.

“We are pleased Geoff has agreed to join The Agency, given his immense experience and success in the real estate sector,” said The Agency Chairman, Andrew Jensen.

 “The appointment comes at a time when The Agency is looking to use the foundation of its strong balance sheet and industry-leading operational performance to continue to drive growth across its business.”

Geoff Lucas says he was impressed with the company’s resilience and commitment to its customers, people and strategy during its formative stages, and believes the business is now positioned, through its strengthened balance sheet, to be active in the consolidation of the industry.

“I am excited to be joining The Agency Group, which I believe has a model and philosophy designed to appeal to a growing number of principals and agents given the current evolution of the real estate market,” said Geoff Lucas.

The Agency Group shares are trading flat at 5.5 cents at 2:20 pm AEDT.

AU1 by the numbers
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