Duxton Water (ASX:D2O) appointed Independent Non-Executive Director Brendan Rinaldi as chairman, effective June 1, succeeding Edouard Peter, according to a Friday filing with the Australian bourse.
The company also proposed to internalize its senior management team through a transitional services agreement with investment manager Duxton Capital Australia (DCA), following a 12-month due diligence, the filing said.
The internalization is subject to shareholder approval at the annual general meeting on May 30.
Under the agreement, DCA will continue providing operational support until internal capabilities are fully established.
If shareholder approval is not granted, the existing investment management agreement will remain in effect until its expiration in 2026.
The internalization is not expected to have a material impact on the company's operation, per the filing.
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