By Nick Hedley
Aware Super, which manages AU$152 billion (US$98 billion) on behalf of 1.1 million members, says its chair, Neil Cochrane, is stepping down after nine years in the position. He will be replaced by Sam Mostyn.
Cochrane has served three successive terms as chair – the maximum term length allowed under the fund’s constitution. His last day in the role will be February 28, 2023.
“During Mr. Cochrane’s tenure, Aware Super has set new benchmarks for the superannuation industry through its climate change portfolio transition plan, strident advocacy for gender equity, diversity, and inclusion on behalf of its members, and a dedicated commitment to strong, long-term performance,” Aware Super said in a statement.
Cochrane oversaw the merger between First State Super and VicSuper in July 2020 – a transaction that gave rise to Aware Super. At the time, this was the largest industry super fund merger on record.
“Neil is one of the great custodians of Australia’s superannuation system, having dedicated more than three decades to ensuring Australians can look forward to their best possible retirement,” said Aware Super CEO Deanne Stewart.
Mostyn will join the board as independent chair on March 1, 2023.
“Sam is one of Australia’s most seasoned board chairs and an experienced leader,” Stewart said. “At a time of so much change in the Australian economy, we’re excited to have someone with Sam’s extensive corporate experience demonstrating the long-term value creation that can be achieved through a commitment to policies such as positive climate action, and equality, diversity, and inclusion.”