Pinnacle Investment Management director Adrian Whittingham has chosen to reduce his hours from full-time to part-time and is expected to step into a non-executive role.
In an announcement to the Australian Securities Exchange (ASX), the firm said Whittingham would continue to represent Pinnacle on the boards of several affiliated investment managers and act as director of Pinnacle.
He was expected to move into a non-executive role in 2021 following the firm’s annual general meeting.
He had already commenced a ‘role transition’ this February with his retail distribution functions having been passed to Ramsin Jajoo.
Whittingham’s remuneration in the reduced role would be $195,000 per annum with no eligibility for short or long-term incentives.
Pinnacle managing director, Ian Macoun, said: “We are very grateful to Adrian for his enormous contribution to the growth of Pinnacle over the past 13 years, from 2007 when he joined an early-stage Pinnacle as an equity partner to the current time. This will be a new phase but not by any means the end of a wonderful partnership journey between Adrian and Pinnacle”.