Explosives maker Orica's chairman Russell Caplan will retire at the end of 2015, after more than eight years on the company's board.
He will be replaced by former Orica chief executive and current Asciano chairman Malcolm Broomhead.
"After eight years on the Orica board, the time is right for me to leave the board and for a change in board leadership," Mr Caplan said in a statement on Tuesday.
Orica has been under pressure because of the downturn in the mining sector. It downgraded its full year profit guidance in August and was forced to write down the value of its assets by as much as $1.65 billion.
It has also faced management turmoil, and appointed Alberto Calderon as chief executive in May after Ian Smith resigned earlier this year.
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