DigiCo REIT shares rise as Mark Arbib leaves board

The news: Shares in DigiCo Infrastructure REIT climbed as the ASX newcomer announced that Mark Arbib will step down from its board, effectively immediately, following his appointment as chief executive of the Australian Olympic Committee (AOC).

The numbers: DigiCo shares were up 2.4% to $2.74 at 1:50pm AEST. They first floated at $5 in December.

The context: DigiCo said Arbib's appointment at the AOC is "testament to his leadership" and thanked him for his services at the data centre owner and developer.

Arbib has served on the AOC's executive committee since 2016 and spent six years as president of Athletics Australia between 2015 and 2021. He was previously federal minister for sport from 2010 until 2012, established and managed the $100 million Packer Family Foundation and served as general secretary of the Australian Labor Party in New South Wales.