Contango Income Generator appoints new chairman
Banking and finance veteran, Andrew MacDonald, has been appointed as non-executive director and chairman of Contango Income Generator Limited.
MacDonald's appointment was confirmed this week and followed a review of the corporate governance structure of the company, and the retirement of former chairman, Ian Ferres, who did not seek re-election at the annual general meeting (AGM) held on 10 November.
MacDonald is a director of management consultancy firm, Mieza Consulting and has delivered projects across Asia, the US, UK and Europe focused on wealth management, corporate governance, risk management and customer experience solutions.
Commenting on the appointment, fellow CIE director and managing director of Contango Asset Management Limited, George Boubouras said that the board was very pleased to make an appointment of MacDonald's quality as the company looked to build on its positive maiden year results.
Boubouras said that additional to MacDonald's appointment, the Board had determined to make several changes to the CIE Board structure and remuneration arrangements, in the interests of maximising shareholder value.
Director fees were being reduced effective immediately with the chairman receiving a salary of $35,000 per annum and independent non-executive directors receiving salaries of $30,000 per annum.
Recommended for you
The UK-based global asset manager has formed a new group executive committee to accelerate its growth strategy following the commencement of its new CEO this month.
Momentum Media has announced 26 winners across 10 individual and 15 group categories for its brand-new Australian AI Awards.
The financial services industry is currently “overwhelmed with quality and quantity of candidates”, Kaizen Recruitment explains, leading executives to face 12-month long recruitment processes.
Zenith Investment Partners has appointed an experienced research executive as its new group head of research following the departure of Bronwen Moncrieff.
