Last week, the company received a management buyout proposal from Poynton and four senior executives, including chief executive Bob Browning.

As a result, Poynton stood aside as chairman to make way for John Akehurst. Three days later, Browning resigned and was subsequently replaced by chief operating officer Peter Magarrry.

Browning attributed his resignation in part to questions from analysts over how he and senior management could do their jobs and consider the buyout at the same time.

In a statement today, Akehurst said the board supported Poynton’s decision to resign as director.

“I would like to thank Mr Poynton, on behalf of the company, for his contribution to Alinta during the six years he has served as a director and as chairman,” Akehurst said.

“This has been a period which has seen very significant value generated for Alinta shareholders.”