Morony will stay on as an ordinary board member to ensure a smooth transition.
Australian Ethical also announced the appointments of Mara Bun and Tony Cole as board members.
Bun is the current and founding CEO of Green Cross Australia and has previously worked for The Wilderness Society, Greenpeace Australia, Choice, the CSIRO and a number of financial organisations, including as a director of Allen Consulting Group.
Cole has been a senior investment consultant and executive in Mercer's investment consulting business for the past 17 years and remains a senior partner at Mercer, working on a part-time basis.
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