Gilly resigns from TFS board

Former Australian cricketing great Adam Gilchrist has stepped down from the board of sandalwood producer TFS Corporation, citing increasing media commitments.

Mr Gilchrist, who joined TFS as an independent non-executive director in July 2011, will remain a global ambassador for the company.

"It's been a wonderful experience to be part of the board of a company that I have been an investor and shareholder in for nearly 14 years," he said.

"The increased knowledge and insight into the business that I have gained will only enhance my role as ambassador with the regular travel I carry out to India, UAE and Europe - all regions with significant market interest and growth potential for TFS."

The former cricketer has been a shareholder in TFS for 14 years and holds a stake in the company worth about $4 million.

TFS chairman Patrick O'Connor said the company had begun the process of finding an appropriately qualified person to replace Mr Gilchrist.

Mr Gilchrist retired from first-class international cricket in 2008 with a test average of 47.6 as a batsman and wicketkeeper.

TFS has enjoyed a strong increase in its share price over the past six months, lifting from about $1.00 at the end of last year to a last closing price of $1.83.

However, its shares fell 4 cents in early trade to $1.79 at 11:39am WST.