Matthew Michelini steps down from Challenger Board
Market Announcement
Challenger Limited (ASX:CGF) today announced that Mr Matthew Michelini has stepped down as Apollo Global Asset Management’s (NYSE:APO) representative on the Challenger Limited Board.
The resignation follows the reduction in Apollo’s ownership in Challenger, which has fallen below the previously disclosed condition for Apollo to hold a minimum of 15% of issued capital to maintain its seat on the Challenger Limited Board.