Contango AM Co-Founder departs Contango MicroCap board plus more changes

Contango MicroCap Limited (ASX: CTN) has announced the departure of David Stevens from its board, effective March 2017.

Stevens co-founded Contango Asset Management in 1998 and, in February 2015, stepped back from his role as chief investment officer to make way for current MD and CIO, George Boubouras.

Stevens' departure from CTN follows the results of an extraordinary general meeting, which also saw the departure of board members Ian Ferres and Glenn Fowles.

Fowles tendered his resignation from the CTN board prior to a shareholder decision being made and therefore a resolution for his removal was withdrawn.

Joining the CTN board is Trevor Carroll and Ken Poutakidis.

In a statement to the ASX, the firm said that they would like to thank Stevens for his "outstanding leadership in establishing CTN and his advice and guidance since inception."

Commenting on Fowles and Ferres' departures, the firm said: "Glenn Fowles has also been involved since inception and, like David, he has been a rock in terms of advice guidance over the journey...the Chairman would also like to thank Ian Ferres for his involvement in CTN and the undivided passion and great experience that he has brought to the Board."