Sequoia Financial Group CEO contract extension announcement

Sequoia Financial Group Ltd (ASX: $SEQ) has announced that Garry Crole has accepted a fixed-term contract as Chief Executive Officer, extending his tenure until June 2026. Under the terms of the new contract, Garry will continue to lead the Group and oversee the growth opportunities in various divisions, including the Legal and Administration Services Division.

Executive Commentary on CEO Contract Extension

Group Chairman Charles Sweeney expressed the Board's pleasure in extending Garry's contract until June 2026, highlighting Garry's significant contributions to the Group's milestones and robust business model. The focus on succession planning for the CEO role over the next two years reflects the Board's commitment to ensuring a smooth transition in leadership.

Summary of Sequoia Financial Group's Announcement

Sequoia Financial Group has extended Garry Crole's contract as Chief Executive Officer until June 2026, acknowledging his achievements in driving strong revenue, earnings, and dividends growth. The Board's emphasis on succession planning demonstrates a proactive approach to leadership continuity. The Group anticipates reporting FY24 numbers with expected revenue of approximately $125m and normalized EBITDA of approximately $8.5m. Additionally, the declaration of a 2.5 cent fully franked final dividend and a 2.5 cent fully franked special dividend reflects the Group's commitment to delivering value to its shareholders.