Australian Finance Group (ASX:AFG) has announced that Tony Gill will be stepping down from the board and resigning from his position as Chair at the end of the month.

Greg Medcraft, appointed to the AFG board in 2021, will be nominated for the role of Chair at the company's board meeting later this month.

Australian Finance Group says Mr Gill joined the AFG board in 2008 and has provided exceptional leadership and guidance to the AFG management team during his 15 years on the board.

Mr Gill's final board meeting will be on March 23 and says he will be leaving AFG in capable hands.