Australian Foundation Investment Company (AFIC) has announced that its current chief executive officer, Mark Freeman, will step down at the end of the 2026 financial year. Freeman’s departure will conclude his eight-year tenure as CEO and ten years as chief investment officer at the company. AFIC is one of Australia’s oldest and largest listed investment companies, providing shareholders with access to a diversified portfolio of Australian equities. The company aims to deliver long-term investment performance and consistent dividend income.
Alison Gibson has been named as Freeman’s successor, with her appointment taking effect from July 13. In addition to her role as CEO of AFIC, Gibson will also assume Freeman’s responsibilities as CEO of Australian Investment Company Services (AICS). AICS provides investment and administrative support to AFIC and three other listed investment companies. These include Djerriwarrh Investments, Mirrabooka Investments, and AMCIL.
The leadership transition at AFIC signals a period of continuity and stability for the organisation and the other listed investment companies under AICS. The change is expected to be seamless, ensuring continued service and focus on delivering value to shareholders. Investors will be watching to see how Gibson guides AFIC in a changing market landscape.
Following the announcement, shares in AFIC experienced a slight dip, easing 0.3 per cent to close at $6.85 on Tuesday. The market reaction was relatively muted, suggesting investor confidence in the planned transition and the company’s future direction under Gibson’s leadership.
