Renewal of Managing Director Contract

WT Financial Group Limited (ASX:WTL) has renewed the executive services agreement of its founder and managing director, Mr Keith Cullen, for a new minimum term of three years, effective from 1 October 2024. Mr Cullen, who has been serving as the managing director since the Company's inception and is its largest non-institutional shareholder, has committed to lead the Company for the renewed term.

Chairman's Commentary on Renewal

The Board and / are delighted that Keith has committed to a further minimum three-year term at the helm of the Company. He successfully conceived and implemented the strategy to pivot the Group from its previous B2C focus to a primarily B2B focus through the acquisitions of Wealth Today, Sentry Group, Synchron and Millennium3, and the success with this strategy has delivered four straight years of compounding growth in underlying NPBT of 50% pa or higher. As significantly, the Company's net assets have increased by 394% across this time, against an increase in issued capital of just 68%.

Summary of Renewed ESA

WT Financial Group Limited has renewed the executive services agreement of its founder and managing director, Mr Keith Cullen, for a minimum term of three years. Mr Cullen, who has been leading the Company since its inception and is its largest non-institutional shareholder, has committed to continue his role. The Company's chairman expressed delight in Mr Cullen's commitment and highlighted the successful implementation of the strategy to pivot the Group from B2C to a primarily B2B focus, resulting in four straight years of compounding growth in underlying NPBT of 50% pa or higher. The Company's net assets have also seen a significant increase during this time. The renewal signifies continuity in leadership and a commitment to the Company's strategic direction.