Chair of the investment committee and independent director Bernie Frasier will step down from the AustralianSuper trustee board on 30 June.
The super fund will announce a new chair of the investment committee after Easter, but has not indicated yet whether it will appoint a new director.
"Bernie Fraser is a very rare individual. As a board member, Bernie has tirelessly applied his insight and wisdom to help build the fund into one of Australia's largest and best value super funds," AustralianSuper chair Elana Rubin said.
"Bernie has played a pivotal role in setting up the investment philosophy, structure and approach, positioning AustralianSuper very well to continue to deliver strong investment returns."
Fraser has been an independent director of the fund and its predecessor Superannuation Trust of Australia (STA) and Australian Retirement Fund (ARF) since 1996.
Fraser will continue to advise the fund on strategic asset allocation matters.
He will also step down from the board of Cbus, where he was a director for almost 15 years.
Fraser will continue as chairman of Members Equity Bank.
