Industry fund First State Super’s chief executive Michael Dwyer will depart from his role at the end of November this year.
In a statement, the industry superannuation fund announced Mr Dwyer would leave the firm in November after 14 years of serving as chief executive.
Chairman Neil Cochrane noted the fund had grown to $90 billion funds under management and 800,000 members since Mr Dwyer took the helm in 2004, when it only had 450,000 members and $9 billion funds under management.
“The significant expansion and development of First State Super can in large part be attributed to Michael’s strategic leadership and the importance he places on personal engagement and fostering a strong and inclusive workplace culture,” he said.
“Michael’s leadership, integrity and values have formed the basis of our success as an organisation.”
Commenting on the announcement of his retirement, Mr Dwyer said it had been a “privilege and pleasure” to be aligned with First State Super for 14 years.
“Many of our members work in vocational roles including nurses and teachers, police and emergency service workers who dedicate their careers to helping others.
“I feel honoured to have played a part in helping them to achieve a better financial outcome in retirement.”
“I am also proud of the work we have done in partnership with industry, unions and governments to support economic growth, create new jobs and new opportunities in regional and metropolitan communities around Australia,” Mr Dwyer added.
Until later this year, he will stay on as chief executive as well as assist the board in finding his replacement.
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