Succession plan already in place
Tony Gill, the chairperson of one of Australia’s largest broker aggregators – Australian Finance Group – will resign from the board at the end of March.
Gill (pictured above left) will step down from his leadership role after holding the position for the past 15 years, AFG announced on Monday.
In acknowledging his resignation, the board thanked Gill for his “exemplary vision and leadership”.
AFG said through a consensus vote the board had agreed on a succession plan, which would see deputy chair Greg Medcraft (pictured above right), step up into the role of chair.
Medcraft, who was appointed to the AFG board in 2021, will be nominated for the role of chair at the company’s board meeting later this month.
Medcraft thanked Gill for his leadership of the company through a period of extraordinary growth.
“Tony joined the AFG board in 2008 and took on the role of independent non-executive chair,” Medcraft said. “He has provided exceptional leadership to the board and sound guidance to the AFG management team.”
Gill said a key highlight of his time at the company was the listing of AFG on the Australian Securities Exchange in 2015.
“I am very pleased to have been a part of the company’s evolution to be the diversified success it is today, ensuring AFG continues to be a significant player in the industry, with a growing earnings base,” Gill said.
“I would like to extend my thanks to my colleagues on the board and to the AFG executive team for their commitment to the company and to the effective working relationships we have enjoyed.”
Gill said board renewal was a focus for all companies and he was very proud to be leaving AFG in the capable hands of Medcraft and the “exceptional breadth of talent and finance sector experience held by my fellow board members”.
“I look forward to watching the company’s continued success,” he said.
Gill’s final board meeting will be on March 23.
“Tony has made a significant impact at AFG during his time on the board and we sincerely wish him all the very best,” Medcraft said.
AFG said Medcraft has extensive financial market experience with leadership roles across both the public and private sectors in Australia and globally.
“Greg’s extensive knowledge of the third-party channel means he understands the important role brokers play in driving competition between lenders, providing a vital distribution channel for lenders without branch networks, and delivering choice for consumers,” an AFG spokesperson said.
