Toll road operator, Macquarie Atlas Roads (ASX:MQA) will be renamed Atlas Arteria once it has separated its management from Macquarie Group (ASX:MQG)
The business has also announced it will internalize management and is on the look out for a new CEO.
Current CEO James Hooke has chosen to stay with Macquarie Group, but will continue to run the business for the interim period.
Macquarie Group is expected to remain as manager of the toll road operator for a further 12 months from the Annual General Meeting next month.
The independent Board of Directors unanimously support the internalization of MQA’s management under the proposal.
Shares in Macquarie Atlas Roads (ASX:MQA) are trading 3.89 per cent higher sto $5.87