Statewide promotes interim COO following exec dismissals

Statewide Super has promoted their head of project management to the interim COO role following the departure of two executives earlier this month.

Combined COO and CFO Grant Eastwood and chief risk officer Kieran Netting were dismissed for failure to obey internal controls.

In a statement on the $10 billion industry fund's site, the fund says that immediate action was taken, including informing regulators. An internal investigation is ongoing.

The fund says that no member data, privacy, or retirement savings were at risk. The issue was related to procurement, unrelated to fund investments, products, or financial advice.

Corlia Van Den Raad, previously the head of project management for Statewide Super, has stepped into the chief operating officer role in an interim capacity.

Van Den Raad joined Statewide as a PMO manager just over five years ago. She was previously a project management specialist at HP and with SA Water.

Reporting from Harrison Worley at Financial Standard contributed to this story.