MYOB announces appointment of Chairman and Directors

31 Mar 2015

MYOB Group Limited (MYOB) today announced the appointment of three independent non- executive directors in connection with its proposed initial public offering (Offer). A Prospectus for the Offer was lodged with the Australian Securities and Investments Commission today.

Justin Milne, a former Group Managing Director of Telstra and current non-executive Director of a number ASX listed companies, has been appointed as Chairman (independent, non-executive). He will be joined by highly experienced directors Anne Ward and Andrew Stevens who will assume Board roles as independent non-executive directors. Biographies are attached to this release.

“It is extremely exciting to welcome Justin, Anne and Andrew to the MYOB Board. They have remarkable combined experience spanning the information technology, telecommunications, financial services, risk management and legal sectors,” said MYOB chief executive officer Tim Reed.

“In addition to the experience they bring, the appointments enhance the strong entrepreneurial culture of the MYOB. All three of these directors have proven their commitment to championing innovation and I look forward to them supporting the management team as MYOB moves into an exciting new phase,” MYOB Director Craig Boyce said. Messrs Reed, Boyce and Bain Capital managing director Paul Edgerley will also sit on the Board.

Mr Milne said that he was honoured by the appointment and looked forward to working with management to guide the organisation through its next stage of innovation and growth. “Small business is the core of the Australian and New Zealand economies and MYOB has been servicing that core for over 24 years. Small business is an extremely interesting and exciting sector to be operating in, as innovation and technology will play a key part in the future of the business economy," Mr Milne said.

On the appointment, Director Anne Ward said, “I am pleased to be joining the board of MYOB, a business that has strong credentials in innovation and now supports businesses from micro right through to growing enterprises. It has been exciting to see the transition from desktop to cloud, and I look forward to being part of steering the business through the next phase of its innovation and growth journey.”

Andrew Stevens, Director, said, "I'm really delighted to be joining the MYOB Board. MYOB is a market leader which has successfully transformed itself into a Cloud-based business and, in doing so, has built a strong platform for helping over a million Australian and New Zealand businesses prosper in a competitive world."

Biographical details of new appointments

Chairman - Justin Milne

Justin is a Non-Executive Director of NBN Co, the Chairman of NetComm Wireless Ltd, Non- Executive Director of Tabcorp Holdings Ltd, Non-Executive Director of SMS Management and Technology Ltd and Non-Executive Director of Members Equity Bank Ltd. He was a Group Managing Director at Telstra, responsible for BigPond Broadband and Telstra’s Media businesses. Prior to working at Telstra he was CEO of OzEmail and the Microsoft Network.

Director - Anne Ward

Anne is a professional company director with extensive experience in business management, strategy, finance, risk and governance across a range of industries including banking, insurance, wealth management and investments, transport and logistics, health, property and tourism. She is presently Chairman of Colonial First State Investments Ltd, Avanteos Investments Ltd, Zoos Victoria and Qantas Superannuation Ltd and is a director of FlexiGroup Ltd. Prior to becoming a professional director, Anne had a successful career as a commercial lawyer for 28 years. She was a partner at Minter Ellison and Herbert Geer and was General Counsel (Australia and Asia) of National Australia Bank.

Director - Andrew Stevens

Andrew is the Chair of the Australian Federal Government’s Advanced Manufacturing Growth Centre and is a member of the Growth Centres Advisory Committee. A member of several organisations, boards and committees, including the Business Council of Australia, the Male Champions of Change Committee, the Australian Institute of Company Directors and the Board of CEDA, Andrew has extensive experience with technology, innovation and emerging markets. Andrew’s executive career at Price Waterhouse, PricewaterhouseCoopers and IBM has provided him with years of experience in Business and ICT programme design and risk evaluation, governance and delivery, and in business transformation and regional/global expansion.

The Offer will be made pursuant to the Prospectus. Anyone considering investing in the Offer should read the Prospectus carefully and in its entirety before deciding whether to apply for Shares. Anyone who wants to acquire Shares will need to complete the application form that will be in or accompany the Prospectus.

The Prospectus is available in electronic form at Persons having received a copy of the Prospectus in its electronic form may, before the closing date for the Offer, obtain a paper copy of the Prospectus (free of charge) by calling the MYOB Offer Information Line on 1800 992 613 (within Australia) or +61 1800 992 613 (outside Australia) from 8.30am to 5.30pm Sydney time, Monday to Friday (business days only). Any individual with questions in relation to the Offer should call the same helpline numbers as above.

Capitalised words used in this media release have the meanings given to them in the Prospectus unless otherwise provided.


For further comment or other information please contact:


Sarah Beyrath, MYOB PR and Corporate Affairs Manager

P: 02 9089 90439 M: 0427 223 841 E:

Dan Billings, FTI Consulting

P: 02 8298 6100 M: 0447 010 499 E:

Andrew Stokes, FTI Consulting

P: 02 8298 6100 M: 0416 967 038 E:

New Zealand

Sarah Putt, MYOB NZ Public Affairs Manager

P: 09 925 3515 M: 029 777 0256 E:

About MYOB

Established in 1991, MYOB is a market leading provider of business management software solutions in Australia and New Zealand. It makes business life easier for approx. 1.2 million businesses across Australia and New Zealand by simplifying accounting, payroll, tax, CRM, websites, job costing, practice management, inventory, mobile payments and more. MYOB also provides ongoing client support via many channels including a network of over 40,000 accountants, bookkeepers and other consultants. It is committed to ongoing innovation, particularly in cloud computing solutions, and spent more than AU$100 million on research and development in the last three years.


This announcement is only being distributed outside of the United States and may not be distributed, forwarded or otherwise used in the United States.

This announcement is not, and does not constitute, an offer to sell or the solicitation, invitation or recommendation to purchase any securities and neither this announcement nor anything contained herein shall form the basis of any contract or commitment. In particular, this announcement does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. Additionally, any securities to be offered and sold in the Offer have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) or the law of any state of the United States, and may not be offered, sold or resold, directly or indirectly, in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable securities laws.