Mr Stott, departs the listed company after over a decade with Wilson Asset Management.
Mr Stott has resigned as a director from both WAM Capital and WAM Microcap, which are listed investment companies under Wilson Asset Management.
WAM Capital provided investors with exposure to actively managed diversified portfolios of undervalued growth companies, generally SME industrial companies.
WAM Microcap holds a portfolio of undervalued growth companies listed on the ASX with market capitalisation of less than $300 million.
The remaining board at WAM Capital consists of chairman and Wilson Asset Management founder Geoff Wilson and independent directors Lindsay Mann, James Chirnside, Dr Philippa Ryan and non-independent director Kate Thorley.
Late last year Mr Stott resigned from his position as chief investment officer with Wilson Asset Management after eight years in the role.
For over 12 years Mr Stott had been the fund’s manager and in his time as CIO the firm grew from $300 million in funds under management to over $3 billion.
At the time Mr Stott, who is only 37, said he wanted to take some time out of the market to spend it with his young kids.
Mr Wilson took over Mr Stott’s portfolio as chief investment officer in late December last year and is still in the position today.
