Restructure and Board Appointments

Xref Limited (ASX:XF1) is pleased to announce a company restructure aimed at enhancing operational efficiency and driving cost savings, along with key changes to its leadership and board composition. This initiative is projected to deliver annual cost reductions of approximately $0.9 million without impacting revenue growth or product development. As part of this restructure, there will be a change in the CFO role, with Avi Lewis assuming the position on an interim basis. Additionally, the role of Commercial Manager will shift to a Revenue Officer role, focusing more on revenue growth.<br/><br/>In a move to bolster the board, Xref welcomes two new non-executive directors, Jon Newbery and Jake Phillpot, who bring valuable expertise and experience to support the company's long-term growth objectives. These strategic changes demonstrate Xref's commitment to long-term growth, operational excellence, and profitability, positioning the company to capitalize on market opportunities and enhance shareholder value.<br/><br/>CEO and Founder Lee-Martin Seymour expressed gratitude to outgoing CFO James Solomons and congratulated Avi Lewis and Tobi Ajibola on their promotions. Chairman Tom Stianos looks forward to working with the new board members as Xref enters its next growth phase. For further information or questions, please visit the investor center on xref.com.