AustralianSuper Chair steps down

AustralianSuper has announced the departure of Heather Ridout, after 12 years' service on the fund's board, the last six as chair.

In acknowledging Ridout's contribution, AustralianSuper chief executive Ian Silk said: "Heather has been an amazing source of strength for me and an incredible advocate for AustralianSuper members in public, political and business forums. I'm sure members will join me in saying thank you to Heather for her tireless efforts to support AustralianSuper."

Ridout's successor is Dr Don Russell, who joined the $170 billion fund's board in May 2019 as an independent director.

Russell said that it was "a great honour to be chosen" as chair, and praised Ridout for having "deftly and expertly led AustralianSuper during a period of extraordinary growth."

He added: "The Board is delighted that Heather will continue with the Fund as a member of the Investment Committee."

AustralianSuper has also announced the appointment of new board director, John Dixon. Dixon replaces Ridout as Ai Group's board representative.