"We are delighted to announce Mark's appointment as chairman," said Data#3 managing director Laurence Baynham.

"He has a deep understanding of large infrastructure projects across the public and private sector and his strong finance, operational and governance experience is highly valued by the Board. With Richard retiring, Mark's extensive knowledge of the business also provides excellent continuity."

Gray joined the Data#3 board in 2017 and chairs the remuneration and nomination committee.

He is also the chairman of Sugar Terminals, deputy chairman of Urban Utilities and a non-executive director of the Northern Australia Infrastructure Facility, Queensland Cricket, and the Royal Flying Doctor Service of Australia (Queensland).

His previous senior roles include under treasurer of the Queensland Treasury Department, CEO of the Queensland Competition Authority and the Queensland Independent Commission of Audit, Queensland office head at Macquarie Group, and executive director at BDO.

Gray holds a first degree in economics from the University of Queensland, and is a senior fellow of the Financial Services Institute of Australia and a fellow of the Australian Institute of Company Directors.

Anderson said "The company has never been in better shape, and it is fitting that I hand over the reins to Mark Gray. It has been a wonderful journey from listing in 1997 as a small Brisbane based IT company as it has developed into the national leader that it is today with over 1,400 employees.

"While it is with mixed emotions that I step down, I have every confidence in the ability of the board under Mark's leadership and the outstanding management team to see Data#3 through this next exciting stage in its, and the industry's, evolution."

Gray said "The board thanks Richard for his significant contribution and service to both the company and the board. He is a foundational member of the board since the company's ASX listing in 1997 and has served as chairman since 2000. He has guided the Data#3 business through national expansion and supported significant growth in shareholder value, to its recent inclusion in the ASX200.

"We wish Richard all the best in his retirement and future endeavours."

Gray will take up his new role on 31 October 2023 at the conclusion of the Data#3 AGM.

He and his fellow directors will subsequently review the composition of the board.