AFIC Taps Alison Gibson as CEO to Succeed Mark Freeman in 2026

Leadership Transition at AFIC

Australian Foundation Investment Company Limited (AFIC), one of Australia's largest listed investment companies, has announced a major leadership change. Mark Freeman, the company’s Chief Executive Officer and Managing Director, will retire at the end of the 2026 financial year, concluding a distinguished 31-year tenure with the firm. His successor, Alison Gibson, will take over the reins effective 13 July 2026.

Freeman’s career at AFIC has been marked by steady growth and strategic stewardship. Over his involvement, the combined funds under management across AFIC and its related listed investment companies have expanded from just over $1 billion to an impressive $12 billion, serving more than 200,000 shareholders. His leadership has been credited with navigating the company through significant industry changes while maintaining a strong focus on long-term shareholder value.

Alison Gibson’s Return and Experience

Alison Gibson is no stranger to AFIC shareholders, having previously served as a portfolio manager with the company from 2011 to 2021 before moving to HESTA, a major superannuation fund. With over 25 years of experience in portfolio management, equity research, and investment strategy, Gibson brings a wealth of expertise to her new role. AFIC’s Chairman, Craig Drummond, highlighted her strong background in leading investment teams and delivering long-term outcomes, expressing confidence in her ability to continue AFIC’s successful investment approach.

Gibson will also assume the role of CEO and Managing Director of Australian Investment Company Services Limited (AICS), which provides investment and administration services not only to AFIC but also to three other listed investment companies, Djerriwarrh Investments Limited, Mirrabooka Investments Limited, and AMCIL Limited.

Remuneration and Contract Details

Gibson’s remuneration package has been disclosed as a base salary of AUD 850,000 per annum, inclusive of compulsory superannuation and other benefits, complemented by an annual incentive plan equal to 100% of her fixed remuneration. The contract includes standard post-employment restrictions such as non-compete and non-solicitation clauses for six months following termination, and a six-month notice period for resignation or termination.

Looking Ahead

Mark Freeman reflected on his retirement as a natural progression, expressing confidence in the team and the company’s future. His departure marks the end of an era for AFIC, but the appointment of Gibson signals continuity and a steady hand at the helm. Investors and market watchers will be keen to observe how Gibson’s leadership style and strategic priorities will shape AFIC’s trajectory in the years ahead.