Industry Super Australia (ISA) and IFM Investors chair Greg Combet has announced his dual resignation following his appointment by the government as chair of its new Net Zero Economy Agency.
In his new role, commencing from 10 July, Mr Combet will guide the agency to ensure that relevant workers, industries, and communities can “seize the opportunities of the net zero transformation”, the Albanese government said in a statement on Wednesday.
Notably, Mr Combet served as minister for climate change and energy efficiency after Labor returned to government in the 2010 federal election.
Prior to first being elected to Parliament in 2007, Mr Combet was also a secretary of the Australian Council of Trade Unions.
With his resignation effective from 30 June, Mr Combet confirmed that the IFM board will meet later this month to appoint a new chair. ISA has yet to set a timeframe.
Speaking on his departure, ISA chief executive Bernie Dean commended Mr Combet for his successful five-year tenure as chair.
“It’s hard to overstate the impact Greg has had. He leaves the super system and the nation fairer, wealthier, and better prepared for the future. Millions of members can be confident they’ll be more financially secure thanks to the reforms Greg has helped ISA drive,” Mr Dean said.
“During a time of significant change and evolution in the super sector, Greg was a trusted, calm, and strong chair, charting a pathway to deliver the best outcomes for our funds and their members.”
In a statement on Wednesday, Mr Combet said farewell to IFM: “This is my 10th year on the IFM Investors board. I am immensely privileged to have served as a director, deputy chair and then chair during this time.
“IFM invests on behalf of industry super funds and global pension funds to benefit their members. This purpose makes IFM a distinct funds management business, one that aligns with my own values in representing working people,” Mr Combet added.
“I believe that I leave IFM with a strong, experienced, and diverse board and executive leadership team with the strategy and capability for continued global growth.
“I look forward to starting my new role and working closely with the advisory board to help Australia seize the opportunities of the net zero transformation,” he concluded.
