Netwealth chair to retire

Netwealth chair Jane Tongs has announced her intention to retire from her position on the board later this year.

Tongs has been a director with the organisation since its foundation in 1999, leading the group through its IPO in 2017.

On her departure, Tongs said, "My 20-plus years at Netwealth have been extraordinarily rewarding to me in a professional capacity having overseen the growth of the business from a start up to the substantial ASX 200 company that it is today. I have particularly enjoyed working with the Joint Managing Directors Michael and Matt Heine, their outstanding executive team and wonderful staff."

Tongs says her decision to retire is based on the importance of board renewal as a key governance matter and that she believes it's time to pass the batton.

Current Netwealth director Tim Antonie has agreed to take on the role of chair. Kate Temby has been appointed as a new director, replacing Tongs.

Tongs continues to hold several other directorships, including with Warakirri Asset Management, Catholic Church Insurances, and the Cromwell Property Group.