The board of Contango Microcap Limited (CTN) announced that David Stevens will be stepping down as Managing Director of the company effective on 31 October 2015. Mark Kerr, Chairman of the company announced that with the company performing well, David had indicated his desire to embark on a Non-Executive Board career. In recognition of his extensive knowledge of investment markets, and of his contribution to the business, the board will appoint David as a Non-Executive Director of CTN from 1st November and seek ratification by shareholders at CTN's Annual General meeting later in November.

David was Chairman of CTN from its inception until 2012, when the current Chairman (Mark Kerr) was appointed to that role. David has led both companies throughout, being appointed Managing Director of CTN in 2012.