Lambert steps down from Countplus

In a statement to the ASX, Countplus said Mr Lambert will retire as chairman immediately, but will remain a director in the short-term. He has been a director of the company since 2006.

Taking his place as chairman will be Ray Kellerman, who was appointed independent non-executive director of Countplus in January 2017.

Count Financial, which is owned by CBA, is the largest single shareholder of Countplus. Former FPA chairman Matthew Rowe was recently named the new chief executive and managing director at Countplus. 

In a separate statement, Mr Lambert said he is stepping down to focus on family, healthcare reform and philanthropy.

He added he has been invited to become chairman of Ecofibre, an 18-year-old Australian company that works in all aspects of industrial hemp.

“The company has largely moved its operations offshore, where it produces and sells a very competitively priced Nutraceutical – Ananda Hemp. Ecofibre is planning a 2018 Australian share market listing,” he said.

“Most importantly, I thank the Countplus board, the company’s new CEO Matthew Rowe and incoming chairman Ray Kellerman for their support of my decision to retire as chairman from Countplus.”

He continued, “I understand and am disappointed by the factors that have worked against the overall performance of Countplus in recent times. I also appreciate the opportunity with a new leadership team to unlock the full potential of the Countplus business and model moving forward.”