The IFM Investors board is seeing change, with a former Labor minister set to be the chair from 1 January, joining the firm leadership with another new member.
Greg Combet AM, will be taking over from the current chair Garry Weaven, following Mr Weaven and board members Linda Rubenstein and Murray Bleach resigning on 31 December.
Cath Bowtell will also be commencing from January 1 as another board member.
Mr Combet joined the IFM board in 2014 following six years in cabinet, ministerial and parliamentary secretary roles in the Australian government.
During his time as a politician, Mr Combet was minister for industry and innovation, minister for climate change and energy efficiency and minister for defence personnel, science and material.
He is also currently chair of Industry Super Australia and chair of the Victorian government’s Interim Emissions reduction Targets Independent Expert Panel.
The other new board member starting in January, Ms Bowtell, has worked across senior roles in both the superannuation industry and union movement.
She is a director of Ausgrid, a member of the Victorian Public Sector Commission Advisory Board and deputy chair of the board of the Royal Women’s Hospital.
“Under Greg’s leadership, IFM Investors will continue to retain our differentiated cultural heritage and investor-first approach, with the aim to deliver strong net returns to working people who benefit from our increasingly global institutional funds management business,” Mr Weaven said.
“Garry has been the pivotal figure in the growth and success of IFM Investors since it was created more than two decades ago. I congratulate and thank him for his pioneering role, vision for the company and energy in bringing IFM Investors to the success story that it is today,” Mr Combet said.
“My aim as chair is to continue the journey that Garry started and to build IFM Investors’ standing as a long-term investor, aligned to investor objectives, while respecting labour rights and its environmental and social responsibilities.
“I believe the board is well equipped with a diversity of skills and experience to support the executive team in its objectives.”
Alison Larsson and Grant Dempsey also joined the board earlier this year, starting on 1 July, along with John Denton, who commenced at the start of the year.
The IFM Investors board now consists of eight members. Other members include Michael Migro, Carol Gray and Deborah Kiers.
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