Having only taken up the role in October 2014, Mr Galbally said Mr Sayer will be replaced by the fund’s former chief executive Bill McMillin.
“With the fund’s head office based in Melbourne and Paul’s family and interests outside of work based in Sydney the demands of commuting, along with the travel involved in the role, proved difficult” said Mr Galbally.
“The board thanks Paul for his service and wishes him well in the future.
Mr Galbally also advised that former CEO Bill McMillin will return to the role of CEO.
“The board is pleased that Bill, who has been assisting myself and the board in a consulting capacity, has agreed to return to the role of CEO in a full-time capacity.”
