AO World appoints Mark Higgins to its Board of Directors as CFO

– UK, Bolton – AO World PLC is pleased to announce the appointment of Mark Higgins as its Chief Financial Officer and as an Executive Director of the Company with effect from 1st August 2015. Steve Caunce, who has held the combined role of Chief Operating Officer and Chief Financial Officer, will remain on the Board as Chief Operating Officer.

Mark joined the Company in July 2011 as Group Finance Director from Enterprise Managed Services Limited where he was Head of Finance. Prior to that he held various senior roles within the Caudwell Group. Mark is a qualified accountant and a member of the Chartered Institute of Management Accountants.

Richard Rose, Chairman said: “For some time, Mark has been supporting Steve in his dual role as Chief Operating Officer and Chief Financial Officer. With the financial reporting and corporate governance requirements of a public company and the increasing scale and complexity of AO’s operations, the Board has decided it is now appropriate for the COO/CFO role to be separated. Following a thorough selection process, the Board has determined that Mark has the relevant skills and experience for the role of CFO and his existing relationships with stakeholders and knowledge of the business will help strengthen the effectiveness of the Board. Steve will remain on the board as COO and this separation of duties will allow him to dedicate his attentions to operational matters which naturally increase as we broaden and expand the business.

I congratulate Mark on this appointment and look forward to working with him in his new role.”

Mark Higgins said: “I am delighted to have the opportunity to join the Board at such an exciting time. AO is an exceptional business and we have a clear long-term strategy which is progressing well and which I, together with the rest of the Board, look forward to delivering.”

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