Mr Warne was elected to the board of IPH in November of last year and currently serves as the chair of Macquarie Group and as a board member of global law firm Allens. He is also a non-executive chairman of the St Andrews Cathedral School Foundation, a non-executive board member of the NSW Net Zero Emissions and Clean Economy Board, and is a member of the ASIC corporate governance consultative panel.

He has also previously served as a director of ASX, chairman of ALE Property Group and OzForex Group.

Speaking about his departure from IPH, Mr Grellman – who is also stepping down from the IPH board – said he has been privileged to serve as the listed practice’s chair, from its successful listing in 2014 until now.

“I wish Peter and the company every future success and I look forward to watching IPH’s continued growth as the leading IP professional services group in secondary markets,” he said.

IPH chief executive and managing director Dr Andrew Blattmann added: “Richard was instrumental in leading our business from a privately-owned professional services firm to its present position as an ASX 200 company with a market capitalisation of approximately $1.9 billion today.”

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Mr Warne said: “On behalf of the board and IPH, I want to acknowledge Richard’s stewardship, dedication and significant contribution to the growth and success of IPH over the past seven years.”

IPH’s group networks consist of Australian firms Applied Marks, Griffith Hack, Pizzeys, WiseTime and Spruson & Ferguson. It also encompasses AJ Park in New Zealand and has Spruson & Ferguson and Pizzeys presences across Asia.