Clime shareholders vote to remove Schafer

Clime Investment Management shareholders have voted to remove Neil Schafer from its board during an extraordinary general meeting. He was also named acting co-chief executive in December.

The company announced the move on the ASX though provided no further details.

Schafer has been a director with the organisation for more than a decade. He was named the organisation's chair in October of last year following the vote to remove the previous chair, Donald McLay.

In April, Clime announced the appointment of a new CEO, former Madison Financial Group chief executive Annick Donat.