VGI Partners' co-founder, research head steps back

VGI Partners' co-founder and research head Douglas Tynan has stepped back from his executive roles. According to a report in Financial Standard, Tynan will stay on the board and remain an investor in the boutique's funds.

"Doug has made a significant contribution to all facets of our business over the last 12 years," said VGI managing partner Robert Luciano. "I look forward to him continuing to make a valuable contribution to VGI Partners' business as a non-executive director.

"While I am personally disappointed to see Doug depart his executive role, I have the utmost confidence in the capabilities of our investment team of 12 professionals in Sydney, New York and Tokyo."

Before co-founding VGI, Tynan spent several years with BDO Kendalls' corporate finance division.

Reporting from Kanika Sood at Financial Standard contributed to this story.