Hearts and Minds Investments (ASX:HM1) said Chief Executive Officer Brett Jollie resigned, following the company's decision to replace the full-time CEO role with a part-time managing director, according to a Monday filing with the Australian bourse.

Richard Howes will succeed Jollie and assume the role of part-time Managing Director, the filing said.

Jollie will remain with the company till June 30, the filing added.