Chanticleer
Magellan chairman’s brutal reset starts with CEO’s exit
Andrew Formica has ended the tenure of David George, as well as the latter’s ambition of getting the funds under management back to $100 billion.
Just nine weeks after his appointment as chairman of fund manager Magellan Financial Group, Andrew Formica is cleaning house.
Formica has ushered chief executive David George out the door and installed himself as executive chairman while he hunts for what will be Magellan’s fourth chief executive since December 2021.
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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com
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