Victorian Funds Management Corporation (VFMC) chair Mike Fitzpatrick will not renew his position after his three year contract ends in January 2009.
"Mike has done a tremendous job as chair. With his experience of in-house management and alternative assets being all-important as we transformed the organisation," VFMC chief executive Syd Bone said.
Fitzpatrick was founder and managing director of alternative investment manager Hastings Funds Management and he is currently director of the firm.
Other directorships include chair of the Treasury Group, non-executive director of Rio Tinto and chair of the Australian Football League.
With the appointment of Justin Pascoe as VFMC's chief investment officer and the board's decision to extend Bone's contract until the end of 2009, Fitzpatrick said it was a good time to hand over the reins.
