Former Western Australian under-treasurer, John Langoulant, has resigned as the head of media tycoon Kerry Stokes' primary investment vehicle, Australian Capital Equity, to take on the chief executive's role at Oakajee Port and Rail, jointly owned by Murchison Metals and Japan's Mitsubishi Corporation. Before joining ACE, Mr Langoulant was CEO of the Chamber of Commerce and Industry WA and chaired the Labor state government's Major Stadia Taskforce.