THE INAUGURAL chief executive of the Regional Investment Corporation, Bruce King, has resigned from the role.
Mr King announced he would step down from the position he has held for three years this week.
RIC has made big strides since being set up by the Federal Government in 2018, now lending $3.07 billion.
The RIC board paid tribute to Mr King's efforts.
"The board would like to extend its thanks to Mr King for his leadership during his three years as chief executive," RIC chair Karen Smith-Pomeroy said.
"Mr King played a pivotal role in the establishment of what is now a key rural and regional finance organisation supporting Australian farming and farm-related businesses during one of the most challenging droughts on record in Australia," Ms Smith-Pomeroy said.
"He has been a strong advocate for regional communities during his tenure, developing a capable workforce based across regional Australia.
She said the organisation was now focusing on a new appointment to continue its growth.
"The RIC will continue to work collaboratively with our partners to take the organisation to the next phase of our strategic development for the betterment of regional Australia.
RIC executive director of corporate services Paul Dowler is acting chief executive while the organisation hunts for a replacement for Mr King.
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