Australia's IOOF Holdings Ltd. said David Coulter will resign as CFO, effective at the end of February 2020.

The company named David Chalmers to replace Coulter.

Gary Riordan will also step down as general counsel at the end of February 2020.

The moves come as the company reviews its senior management.

During the company's annual general meeting in November, IOOF Chairman Allan Griffiths called on others in the industry to "take note" of the work the company was undertaking to deliver a "best practice" governance model, The Australian reported Nov. 28.