Michael Brennan is stepping down as head of the Productivity Commission when his five-year term ends in September.

Mr Brennan was appointed as Chair of the Commission on 11 September 2018.

He had previously served as a Deputy Secretary for the Victorian Department of Treasury and Finance before joining the Commonwealth Treasury as the Deputy Secretary of Fiscal Group.

“Michael Brennan has advised the Government he will not seek reappointment as Chair of the Productivity Commission,” Treasurer Jim Chalmers said in a statement on Friday.

He thanked Mr Brennan for his contribution to the independent research and advisory body, including the five-year-productivity inquiry into lifting Australia’s productivity performance.

A merit-based recruitment is underway to appoint a new head.

Meanwhile, the Treasurer has also announced reappointments to two key positions.

Mick Keogh, a Deputy Chair of the ACCC since 2018 and an Associate Commissioner from 2016 to 2018, will serve another five years as deputy.

Rosheen Garnon has been reappointed as Chair of the Board of Taxation.

Her three year term ends on March 2026.

Ms Garnon’s reappointment to the part-time position would support the Board in providing advice on the design and operation of taxation laws, Mr Chalmers said.