Appointment of New Independent Director

NZ Automotive Investments Limited, 17 Levene Pl, Mt Wellington, Auckland, 1060
+64 (9) 666 0158 | info@nzautomotiveinvestments.co.nz | nzautomotiveinvestments.co.nz
22 April 2022

Company Announcement

NZX:NZA


Appointment of New Independent Director

New Zealand based integrated used automotive group NZ Automotive Investments Limited (NZAI / the
Company) (NZX:NZA) is pleased to announce the appointment of Tim Cook as an independent director,
effective from today, 22 April 2022. The appointment follows the resignation of Karl Smith and Michele
Kernahan earlier this month.

Interim Chair of NZAI, Charles Bolt said “The Board is delighted that Tim has accepted an invitation to
join the Company as an independent director, bringing with him a breadth of experience across a range
of industry sectors.”

Tim Cook was a director and then Chair of Auckland City BMW, Mini and Rolls Royce between 2008
and 2015. He was previously an independent director of NZX listed companies including Charlie’s
Group prior to the Asahi takeover in 2011, Plexure and Good Spirits Hospitality. He continues to hold a
number of other directorships and is currently the Chair of Medsector Advisers Limited, The Heart Group
and MyWave.AI.

Tim Cook commented “this is an exciting time to join NZAI as the country starts to emerge from Covid-
19 and the opportunities that will present. Despite pressure on stock supply and increased retail
financing costs, NZAI is very well positioned to capitalise on the opportunities ahead and I look forward
to working with the Board and Senior Management to develop innovative strategies to enhance
performance, growth and market share.”

Tim has been appointed by the Company’s existing Board, as permitted under the Company’s
constitution. He will hold office until NZAI’s 2022 Annual Meeting at which time he will offer himself for
re-election by shareholders. The Board has determined under the Listing Rules that Tim is an
independent director. In accordance with the announcement earlier this month, Karl Smith’s resignation
will take effect from today, 22 April 2022.

Ends

For further information please contact:
Shareholder enquiries
Charles Bolt
Interim Chairperson
+64 21 889 533
charlesbolt29@gmail.com


About NZ Automotive Investments Limited (NZAI)
NZAI is an integrated used automotive group operating throughout New Zealand via two subsidiaries: Automotive Retail and
Vehicle Finance. NZAI’s mission is to deliver quality cars and financing solutions at the most affordable prices to the average New
Zealander. Operating under the “2 Cheap Cars” brand, its Automotive Retail company is one of the largest used vehicle sellers in
New Zealand with 12 dealerships across the country. Its Vehicle Finance company operates under the “NZ Motor Finance” brand.
It was established in 2019 to diversify earnings and provide a further growth opportunity for NZAI. It originates loans entirely from
cross-selling to Automotive Retail customers, which allows NZ Motor Finance to grow its finance book with minimal acquisition
and administrative costs. www.nzautomotiveinvestments.co.nz