Ian Ihnatowycz will step down as a board director for Toronto-based AGF Management Ltd. (AGF) in early May, the company announced on Wednesday.

Ihnatowycz first became a board member two years ago after AGF purchased Acuity Investment Management Inc. and Acuity Funds Ltd., of which he was president and chief executive officer.

Currently, Ihnatowycz is president and CEO of First Generation Capital Inc., a private investment holding company. He also sits on the boards of Zymeworks Inc. Myca Health Inc. and the Royal Conservatory of Music.

Ihnatowycz will officially step down from his role on the board of directors on May 7, 2013.