Platinum AM inaugural chair to step down

Platinum Asset Management's inauguaral chair, Michael Cole, will retire as a non-executive director in November.

Cole has been the chair of the organisation since its listing on the ASX in 2007.

His departure is part of a "continued renewal programme" in the organisation. "An important discipline in any company is planning for the transition at both management and Board levels," said Cole. "It is a testament to the founders of Platinum that a strong succession plan has been put in place to ensure that Platinum remains relevant and continues to acquire the skills required to successfully adapt to these ever-changing markets."

Cole is also currently the chair of Ironbark Capital. He's previously held senior executive roles at Bankers Trust Australia and been a director for the NSW Treasury Corporation.

In a statement, the organisation thanked Cole for the "invaluable contribution and guidance that he has provided to the Company throughout his tenure."