Macquarie Technology chair to retire after 11 years

Macquarie Technology Group (ASX:MAQ) has announced that long-serving chair Peter James will retire following the release of the company's half-year results next month, ending an 11-year tenure as chair and 13 years as a director.

James will be succeeded by non-executive director Lisa Brock, who has served on the board for three years and chaired its audit and risk management committee for the past year.

Brock brings extensive executive experience from Qantas and Jetstar and previously held a board position at software firm WiseTech Global (ASX:WTC).

Macquarie Technology also said it plans to appoint a new independent non-executive director in the coming months.

Reflecting on his tenure, James said, "I am incredibly proud of the 11 consecutive years of profitable growth and the ten-fold increase in share price delivered during my time as chair. The time is right for me to hand over leadership to Lisa as the company enters its next phase of significant investment and growth."

Brock added, "I am excited by the opportunities for Macquarie Technology to innovate, invest, and grow its digital infrastructure to support Australia’s cloud and AI future."