Austock Funds Management has announced the resignation of its director and chairman, Michael McFarlane, for personal reasons.
In a statement released to the Australian Stock Exchange (ASX), the Austock board acknowledged the contribution by McFarlane as chairman and said the search for a new independent, non-executive chairman was underway.
In the meantime, current acting chairman Vic Cottren will continue in the role.
Prior to joining Austock in 2006, McFarlane was the executive director and property funds management specialist for Macquarie Bank. He was the initiator and a founding director of Macquarie’s first listed property trust and the Macquarie CountryWide Retail Trust, as well as a director or alternate director for many of its other listed property and infrastructure trusts.
Austock is the responsible entity for the Api Fund.
