What happened with the Humm Group (ASX:HUM) board restructuring?

Humm Group has reached a settlement with activist shareholders Jeremy Raper and Collins Street Asset Management to overhaul its leadership. Founder and largest shareholder Andrew Abercrombie and Chair Robert Hines have resigned from the board effective immediately.

Why did Andrew Abercrombie resign from the Humm Group (ASX:HUM) board?

Abercrombie resigned to facilitate "orderly board renewal" and minimize potential conflicts of interest as the company evaluates a takeover bid. As the founder and holder of a 29.6% stake through The Abercrombie Group, his departure aims to streamline the independent board committee's decision-making process.

Who are the new leaders of Humm Group (ASX:HUM) following the activist settlement?

Teresa Dyson has been appointed as the new Chair of the board, replacing Robert Hines. Additionally, Rajeev Dhawan and Garry Sladden have joined the board as new non-executive directors.

How does this news affect the $385 million takeover bid by Credit Corp (ASX:CCP)?

The board shake-up is a pivotal move for the pending $385 million acquisition proposal from debt collector Credit Corp. The newly appointed directors, Dhawan and Sladden, will join the independent board committee specifically tasked with evaluating this offer.

What happened to Jeremy Raper’s activist campaign against Humm Group (ASX:HUM)?

Jeremy Raper has officially ended his activist campaign and withdrawn his own nomination for a board seat as part of the settlement. While the EGM on May 13 will still occur for technical reasons, Raper and Collins Street Asset Management have pledged to vote against their own previous motions to remove other directors.

Humm founder resigns as activist feud ends

Written by Isaac FrancisPublished May. 11 2026Last Updated May. 11 2026

Humm Group (ASX:HUM) has reached an agreement with activist shareholders to overhaul its leadership, headlined by the immediate resignation of founder and major shareholder Andrew Abercrombie.

The deal concludes a high-stakes campaign led by Jeremy Raper and Collins Street Asset Management, effectively averting a looming showdown at the extraordinary general meeting scheduled for May 13.

The restructuring sees both Abercrombie and Chair Robert Hines depart the board, making way for the immediate appointments of Rajeev Dhawan and Garry Sladden as non-executive directors.

Current director Teresa Dyson has been elevated to the role of chair.

The changes come at a critical juncture as Humm’s independent board committee evaluates a $385 million takeover bid from debt collector Credit Corp. (ASX:CCP).

While Abercrombie’s family office, holding a 29.6% stake, retains the right to nominate a representative by July 1, his personal exit is intended to "minimise conflicts" and facilitate an "orderly renewal process".

As part of the settlement, Jeremy Raper has withdrawn his bid for a board seat, ending his public activist campaign.

Although the May 13 meeting will proceed, the activist bloc has pledged to vote against their own previous motion to remove director Andrew Derbyshire, ensuring further stability.

At the time of reporting, Humm Group’s share price was $0.66.