Elana Rubin Formally Appointed As Independent Chair Of The Afterpay Board

SAN FRANCISCO, May 26, 2020 /PRNewswire/ -- Elana Rubin will transition from Interim Chair to Chair of the Afterpay (ASX: APT) Board effective immediately.

Elana has advised of her intention to retire from the ME Bank Board following its June 2020 Board meeting and will remain as a Non-Executive Director on the Boards of ASX listed companies, Telstra and Slater and Gordon.

Anthony Eisen, CEO and Managing Director of Afterpay commented on behalf of the Board:

"Following an extensive global search by Spencer Stuart, a premier executive search and international leadership advisory firm, the Board deemed that Elana was best placed to lead the Board of Afterpay.  Her significant contribution as a Director since March 2017, backed by her outstanding performance in her capacity as Interim Chair, made Elana the most compelling choice.  Her ongoing stewardship and focus on good corporate governance will continue to deliver value to shareholders. We would like to take this opportunity to congratulate Elana and thank her for her decision to formally accept the role of Chair."

APPOINTMENT OF SHARON ROTHSTEIN TO THE AFTERPAY BOARD

Sharon Rothstein has been appointed as an independent Non-Executive Director of Afterpay and will formally join the Board on 1 June 2020.

Sharon is based in the US and presently sits on the Board of Yelp Inc, a New York Stock Exchange listed company that provides a one-stop local platform for consumers to discover connect, and transact with local businesses of all sizes. Sharon is to be appointed as an independent Non-Executive Director of InterContinental Hotels Group (IHG), with effect from 1 June 2020. IHG is listed on the London Stock Exchange and is one of the world's leading hotel companies, with approximately 5,900 hotels in more than 100 countries.

Sharon also serves as an Operating Partner at growth equity firm, Stripes Group. Prior to that she was the Executive Vice President, Global Chief Marketing Officer of Starbucks Corporation for five years, following her position as Senior Vice President of Marketing at Sephora, a specialty beauty retailer.

Sharon has held senior marketing and brand management positions with Godiva, Starwood Hotels and Resorts, Nabisco Biscuit Company and Procter & Gamble.

Sharon holds a Bachelor of Commerce from the University of British Columbia and an M.B.A. from the University of California, Los Angeles.

Elana Rubin, Chair of Afterpay commented:

"We are delighted that Sharon has agreed to join the Afterpay Board.  Her expertise and experience across leading consumer brands will add significant value to the Group and complement the skills that already exist within our high calibre team.  Sharon's background will provide the Board and management with key retailer insights and will also assist us in developing new relationships and networks globally.  We look forward to Sharon commencing with us in June." 

CLIFF ROSENBERG TO RETIRE FROM THE AFTERPAY BOARD

Cliff Rosenberg tendered his resignation as a Non-Executive Director of Afterpay with effect from 24 May 2020.

Elana Rubin, Chair of Afterpay commented:

"Cliff has had a long association with Afterpay and was a key advisor throughout the very early stages of Afterpay's evolution. His contribution to the business and the Board has been invaluable and he remains a major supporter of Afterpay and its future prospects.  We would like to take this opportunity to thank Cliff for his substantial contribution to the Group and his unwavering commitment over four years. We wish him all the best for the future."

Cliff Rosenberg, Non-Executive Independent Director of Afterpay commented:

"It has been a real honour and privilege to have worked with Elana, Anthony, Nick, my fellow board members, and the exceptionally talented Afterpay team. To see the company grow into a global leader in the buy now pay later space in just a few years has been amazing and I look forward to the team continuing this success in the years to come. 

AUDIT, RISK AND COMPLIANCE COMMITTEE UPDATE

Independent Non-Executive Director Pat O'Sullivan has assumed the role of Chair of the Audit, Risk and Compliance Committee.

Authorised by:

Anthony Eisen

CEO & Managing Director

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