Class Limited (CL1) announced that CEO Kevin Bungard is stepping down from his role by mutual agreement with the board. Mr. Bungard has been CEO since April 2014 and led the company through its successful listing on the ASX in December 2015. Mr. Bungard will step down after a brief transition period and CFO Glenn Day will then take on the role of acting CEO until the new CEO is appointed. Mr. Bungard will remain available to consult to the company during the balance of his three months' notice period.