True announced that Sean Glithero, Chief Financial Officer ("CFO") has informed the Board of his intention to step down from his position as CFO and as a director and take a new role at Funding Circle. Sean will therefore not be standing for re-election at the Annual General Meeting to be held on 21 September 2017. The Board has appointed Nathan Coe as Sean's successor.

Nathan joined Auto Trader in 2007 and has been instrumental in the company's transition from a magazine business to a digital company, responsible for launching a number of new business areas and for Auto Trader's early entry and subsequent growth in mobile and online. Nathan will combine the role of CFO with his existing responsibilities as Chief Operating Officer. Sean will remain in his role to ensure a smooth transition of his responsibilities, with a handover date to be mutually agreed between the Company and Sean.