MacarthurCook managing director and founder Craig Dunstan has resigned, effective yesterday.
Dunstan’s resignation comes after the MacarthurCook board announced to the Australian Securities Exchange recently that it had reached agreement in relation to the AIMS takeover bid after AIMS increased its offer by a further 8 cents to 43 cents per share.
Given MacarthurCook now has a new major shareholder, Duncan believes it is time for someone else to take the company to the next level, according to MacarthurCook chairman Richard Haddock.
A MacarthurCook statement said that Dunstan has also sold his shareholding into the bid by AIMS Securities Holdings.
Dunstan founded MacarthurCook in 2002. He built it to a position where it now has more than 21,000 investors and more than $1.1 billion in funds under management.
Haddock said the board of MacarthurCook has established a very strong, experienced and well regarded management team in Australia and Asia over the past 18 months. He said the company is in a position to further expand the MacarthurCook platform “particularly in Asia with the anticipated role and contribution of AIMS”.
A new managing director has yet to be chosen, Haddock said.
