Austin Engineering Limited announced following discussions with its Board, Mr. David Singleton has advised of his intention to remain as Austin's Managing Director until the end of fiscal year 2025, after which time he has indicated an intention to retire from his executive position. Mr. Singleton has been Managing Director of Austin since July 2021 following a short period where he undertook a strategic review of the business and acted as interim CEO. He was previously a Non-Executive Director of the Company between 2019 and 2021.

Ending his tenure at the end of fiscal year 2025 will allow the Board to complete a thorough internal and external search for a successor for Mr. Singleton and permit sufficient time for a handover of the role and responsibilities.