Media Super CEO to retire

Media Super CEO Graeme Russell will retire in July, the organisation announced today.

Russell, who has been limited due to an illness, will step back from the CEO duties immediately and will serve as a special advisor to the industry fund until 1 July.

Current Media Super COO Tony Griffin will serve as acting CEO, as he did in 2019 during Russell's extended illness.

Russell became CEO of Media Super in 2013 however he has a long history with both the industry and fund. He was a trustee director of Media Super for 2 years, and its predecessor fund JUST Super for 19 years.

Before joining Media Super, Russell was the CEO of First Super. He also spent time in executive roles in the travel and education industries.

Media Super's chair, Gerard Noonan, paid tribute to both Russell's long-term accomplishments and his turnaround of the fund's performance in recent years.

"With Media Super's small investment team and supported by our Board, Graeme has been instrumental in single-mindedly recommending strategies - and executing them - to push our performance into the winner's circle," Noonan said.

"He's done a terrific job for our members and has been a passionate advocate on Media Super's involvement in our various industries.

"Graeme is now well into recovery but has decided to ease back on work commitments."

Russell said that it's been his privilege to serve as CEO and was confident in the direction of the organisation. "We are totally member-focussed, and woven into the fabric of our industries," he said.

"We've delivered very competitive returns, at low fees, while also supporting our members and industries," Russell said.

"I think it's disappointing that government and the regulators don't understand the important contribution that industry-specific super funds make to their industries, beyond superannuation", he said. "We're about to see that clearly, as funds like Media Super step-up to support members and companies struggling through the current economic dislocation and job losses".

"It will be a smooth transition as Tony and Graeme have worked together closely and will continue to do so until July of this year," Noonan said.