AVI Limited announced that Gavin Tipper, a non-executive director since March 2007 and Chairman of the Board since July 2012, accepted an executive position outside AVI in August 2022 and advised then of his intention to resign from the Board once a successor had been appointed. Following an extensive search, the Board announced the appointment of Michael (Mike) John Watters to the Board as an independent non-executive director with effect from 1 June 2023, and as Chairman from 1 July 2023. Mike was the CEO of RDI REIT PLC from April 2006 until his retirement in December 2020.

He has served on the boards of Redefine Properties Limited, Hyprop Investments Limited, Sycom Property Fund, the Cromwell Property Group and he chaired the RBH Hospitality Group Limited (UK).