"Robert and Jurgen have been exceptional partners to management, and key contributors to value creation for Aya and its shareholders," said Benoit La Salle, president and CEO. "Their insight, leadership and governance discipline played a critical role in Aya's transformation. We are truly grateful for their contributions, which will have a lasting impact."

In connection with this board transition, Aya said Taub and Hambrecht each sold, by way of a secondary market transaction, a portion of their holdings, together totaling 7.5 million shares, while "remaining meaningful long-term shareholders". Furthermore, members of management sold approximately 1.1 million shares, representing approximately 12% of the executive management team's holdings and, largely consisting of shares issued upon the exercise of long-term incentive plan options. Aya added the sale was conducted as part of the ordinary course of portfolio management, with the management team "remaining meaningfully invested", holding approximately 7.7 million securities, "reflecting continued confidence in the corporation's future growth prospects".

Shares in AYA rose 1.9% in Canada on Wednesday.

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