Director steps down from Blue Sky board

Brisbane-based fund manager, Blue Sky Alternative Investments, has announced the departure of executive director Elaine Stead from its board, effective immediately.

Stead, who joined Blue Sky in 2013 and is currently head of Blue Sky Venture Capital, was appointed as a member of the board in September 2016.

Blue Sky has also announced the board departure of Nicholas Dignam, head of growth capital. Both Stead and Dignam will retain their executive responsibilities with the firm.

Commenting on their service, Blue Sky's chair, John Kain, said they had both "made significant contributions as directors and they will continue to concentrate on delivering strong investor returns and growing the business through their executive roles."

Blue Sky is now looking to appoint independent directors to its board.