InvestSMART

Australian Foundation Investment Company Limited (ASX:AFI)

ALERT: Price-sensitive ASX Announcement for AFI
Current share price for AFI : $6.950 0.08 (1.16%)+
Announcement
Release
17 Feb 2026 9:30AM
Price at Release
$6.870
Full Release
download
Summary
Australian Foundation Investment Company Limited (AFIC) announced the retirement of Mark Freeman, the Chief Executive Officer and Managing Director, effective at the end of the 2026 Financial Year. Alison Gibson has been named as his successor, set to assume the role on 13 July 2026. Freeman, who has been with AFIC for over 31 years, has played an instrumental role in growing the funds under management from over $1 billion to $12 billion, alongside maintaining strong relationships with invested companies. Alison Gibson, an experienced investment professional, previously served as a portfolio manager at AFIC and has over 25 years of experience in portfolio management, equity research, and investment strategy. Gibson's appointment underscores AFIC's commitment to continuing its long-term investment approach, which has provided substantial benefits to shareholders.
Key Points
  • Mark Freeman to retire as CEO and Managing Director at the end of the 2026 Financial Year.
  • Alison Gibson appointed as successor, effective 13 July 2026.
  • Mark Freeman's tenure saw funds under management grow from $1 billion to $12 billion.
  • Alison Gibson brings over 25 years of experience in investment management.
  • AFIC emphasizes its long-term investment strategy and shareholder benefits.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.