Donald Trump's former press secretary,Sean Spicer,is due in Sydney this week to speak to investors.
Current chairman Brett Cairns will move to chief executive while co-founder Hamish Douglass will become chairman and will continue as Magellan's chief investment officer and lead portfolio manager.
One prominent financial player has gone against the tide of fat boardroom pay packets and skinny equity interests.
Magellan Financial had a lot of good news for investors on Thursday,but it also served up another sledge for Cricket Australia over the ball tampering saga.
The sky is no longer the limit for stock picking genius Hamish Douglass - not in terms of pay anyway.
Magellan Financial Group has terminated its naming rights sponsorship of domestic men's Test matches just a year into a three-year deal.