The board of Rest has announced the appointment of a new independent chair and independent director, James Merlino, who will be taking over the role of Mr Marshman in the new year.
Mr Marshman has held the roles of independent director and chair since December 2013 and July 2014, respectively.
According to Rest super, he has made significant contributions to the fund during substantial periods of transformation and growth.
Moreover, Mr Marshman said that the last nine years on the board have been a “privilege”.
“Protecting and growing our members’ retirement savings has remained my light on the hill, as has the diverse and changing needs of our members,” he continued.
“I’m proud that in my time at Rest, we have been able to offer greater assistance to members, ensuring as many as possible have access to the important support they need.”
He additionally thanked Rest’s members, employees, and his colleagues for their support.
“James is a fantastic addition to the Rest board and will be a tireless advocate for our members, ensuring their best financial interests continue to be at the heart of everything at Rest,” Mr Marshman concluded.
Mr Merlino’s role will commence on 1 January 2023 after two decades in the Victorian government, most recently holding the positions of deputy premier, minister for education and minister for mental health.
Mr. Merlino's previous ministerial portfolios included sport, recreation, and youth affairs, disability, aging, and caregivers, and minister assisting the premier on multicultural affairs.
Moreover, the retired politician brings experience in fiscal and economic transformation, collaborative leadership, corporate governance and stakeholder relations, according to the board.
Speaking on his appointment, Mr Merlino said: “I look forward to supporting Rest members as they trust us to grow their super.”
“Rest has a unique perspective and role to play in supporting our members as they navigate the current economic challenges while also delivering the best possible retirement outcomes for members.
“Rest represents Australians working in a range of industries, including retail, food and logistics. These are the people who keep our community functioning. The past few years have taught us just how critical to the economy our members truly are,” Mr Merlino concluded.