After 10 years at the helm, charles kiefel lifts anchor at militarySuper
Minister Assisting the Minister for Defence Bruce Billson said it was with some regret that he accepted the resignation of long-time Chairman of the Military Superannuation and Benefits Board of Trustees Charles Kiefel.
Mr Billson said that after 10 years of outstanding service Mr Kiefel's resignation would take effect on August 31.
When Mr Kiefel first took on the role of Board Chairman the Fund held assets of less than $400 million, and this has now grown to a Fund with assets under management of $2.6 billion.
'I want to take this opportunity to commend Charles for his leadership, commitment and strategic approach in this important role. The efforts of his work have brought great benefits to Fund Members," Mr Billson said.
MilitarySuper Chief Executive Officer John McCullagh said Mr Kiefel's personal drive has seen the development of an innovative and sophisticated investment strategy.
'This strategy is aimed at providing members with sustainable investment returns in most if not all market conditions. The fruits of that strategy are now being seen with the Fund averaging net returns to Member over the five years since its implementation of more than 11 per cent on average per year," Mr McCullagh said.
'Charles was also the driving force behind the implementation of value adding Member services, through the introduction of facilities for members to make spouse and salary sacrifice contributions into the Fund."
The role of Trustee and Chairman is a part-time one, but given his enthusiasm for the role and his strong desire to serve members of the Defence Force, Mr Kiefel has devoted significantly more time and personal resources than could reasonably be expected of a part-time office holder.
'His vision for MilitarySuper is that it should be seen as one of, if not the best superannuation schemes in Australia, providing benefits and standards of service to its members that recognise the unique nature of Military Service," Mr McCullagh said.
In his commercial and private life Mr Kiefel serves on the Boards of a number of private companies and charitable organisations. Having served with distinction for more than 10 years he has decided that now is the time for him to move aside for the next generation of chairman and to concentrate on his growing business interests.
'In his period as Chairman Charles has made a significant contribution to the welfare of members of the Australian Defence Force. This has been achieved during a period of significant Fund growth and increased legislative and regulatory complexity," Mr Billson said.
Within the superannuation industry in general Mr Kiefel has sought to raise the level of knowledge and expertise among senior Fund executives and Trustees through participation in industry education forums. He is a sought after speaker on investment and governance issues and is seen as a leader within the superannuation industry.
'Mr Kiefel leaves MilitarySuper with a proud record of achievement and with the best wishes and respect of his fellow Trustees, myself and the members of the scheme whom he has served so well," Mr Billson said.
Media Information:
Cameron Hill
(Mr Billson)
03 9781 2333
0408 239 521
Defence Media Liaison
(Defence)
02 6265 3343
0408 498 664
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