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RAS Technology Holdings Ltd (ASX: RTH) (‘RAS’ or ‘the Company’) is pleased to announce the appointment of Tim Olive as the Company’s Chief Financial officer (CFO), effective October 1, 2022.
Mr Olive is a highly experienced Executive and joins the Company from HIA Insurance Services (HIAIS) a majority-owned subsidiary of Aon, the large multinational professional services firm. HIAIS is the leading insurance broker to the residential construction industry in Australia with revenue in 2021 estimated at $27m.
Mr Olive joined HIAIS in 2017 as CEO following a 14-year career at the Housing Industry Association (HIA) where he was a key member of the Senior Executive team, including as CFO, and a driving force behind the improvement of HIA's digital innovation strategy. As CEO of HIAIS, Mr Olive led a team of 80 employees which saw HIAIS become the highest performing business segment in Aon Australia in 2020 and 2021.
Of particular note, Mr Olive also has relevant racing industry experience. In 2010 he was first elected as Chairman of the Canberra Racing Club, becoming the youngest Chairman in the Club's history. He has variously served as Committee Member and Treasurer and was re-elected Chairman in 2020. Additionally, Mr Olive is a Fellow of CPA Australia (FCPA) which recognises both his financial and business acumen.
Mr Olive replaces Andrew Burns who will finish with the Company on 15 October 2022 when his contract term concludes and after a hand-over period with Mr Olive. Mr Burns has been a consulting CFO since May 2021 and provided RAS with invaluable support, particularly though the Company's IPO in November 2021.
Commenting on the appointment, RAS' CEO, Stephen Crispe stated, "We are delighted to have Tim Olive join the Company. His experience across multiple C-suite roles at HIA and HIAIS, as well as in digital product innovation and the Australian horse racing industry makes him a very strong fit for RAS. On behalf of the Board I also extend our thanks to Andrew Burns for his service to the Company and wish him well in his future endeavours. "
For further information:
Investor Enquiries: email@example.com
Media Enquiries: Mel Hamilton, M&C Partners - Melissa.Hamilton@mcpartners.com.au
About Racing and Sports
Founded in 1999, RAS Technology Holdings Limited (Racing and Sports) is a leading provider of fully integrated premium data and enhanced content to the global racing and wagering industries. It services consumer and enterprise markets and its clients span the spectrum of the racing and wagering industries such as Entain Group (including Ladbrokes and Neds), Flutter Group (including Sportsbet, Paddy Power and Betfair), Tabcorp, BlueBet Holdings Limited (ASX: BBT), bet365, Singapore Pools, Australian Turf Club, Hong Kong Jockey Club and Racing Victoria.