Long-serving JANA Chair steps down

JANA Investment Advisers has announced the retirement of long-serving chair Ken Marshman.

Marshman commenced his transition to retirement in 2013 when he stepped away from executive duties to focus on his role as chair, JANA said. He previously served as JANA CEO from 2000 to 2008 and, most recently, played a "critical role" in supporting the 2017 partial management buyout of JANA from NAB.

Commenting on his tenure, JANA CEO Jim Lamborn said: "Ken's achievements at JANA are too numerous to mention in this brief statement. Suffice to say he has led this business with distinction and dignity through multiple market cycles and business challenges."

He added: "He leaves this business very well positioned to continue its single-minded focus on delivering great investment outcomes for our clients. This focus will never change at JANA."

Marshman's successor is new chair Fiona Dunn, who joined the JANA board in 2017. She will be joined by John Coombe who is re-joining the board as an executive director.