AustralianSuper names new Independent Chair

AustralianSuper has announced the appointment of Dr Don Russell as the $170 billion fund's new independent chair.

Russell, who joined the AustralianSuper board in May 2019, will succeed Heather Ridout, who has served as chair since 2013 and as a director since 2007.

Russell previously served as a global investment strategist at BNY Mellon Asset Management Australia and as the independent chair of State Super. From 1993 to 1995, he also served as Australia's Ambassador to the USA in Washington, and from 1985 to 1993, and again in 1996, he was the principal adviser to the Hon Paul Keating.

Commenting on his appointment as chair, AustralianSuper chief executive Ian Silk said: "Don has an extraordinary range of experience in both the private and public sectors and he also has a very deep understanding of the superannuation system and its role in the Australian economy. His broad and deep experience in both finance and public sector policy development will serve AustralianSuper members well."

Russell added that it was "a great honour to be chosen" and that he is "committed to ensuring that the members first philosophy which has underpinned AustralianSuper since its inception will continue to be the bedrock of our actions and decisions."

AustralianSuper has also announced the appointment of new board director, John Dixon, who joins as a representative of the Ai Group.