Governance and reporting

The AustralianSuper Board operates within an appropriate governance framework that is well maintained.

Nomination, appointment and removal of Directors

Our Board is made up of equal numbers of Directors representing members and employers. Independent Directors may also be appointed. Our Member and Employer Directors are appointed by the Trustee’s shareholders. The shareholders are the Australian Council of Trade Unions (ACTU) (through ACTU Super Shareholding Pty Ltd) and the Australian Industry Group (Ai Group). The ACTU is Australia’s peak union body and the Ai Group is Australia’s peak employer association. All appointments are subject to board ratification. Directors are appointed for a term of no more than three years, but can be reappointed at the end of the three-year term.

A number of Alternate Directors may also be appointed. The Alternate Directors can represent a Director who can’t attend a Board meeting and they may also be a member of Board Committees. Each Director must meet the propriety and fitness standards outlined in the Fit and Proper Policy before their appointment is finalised and on an ongoing basis.

Directors can be removed if they no longer satisfy legislative or other requirements. This may occur if the director is convicted of a dishonesty offence, is insolvent or disqualified under applicable legislation. More information on the rules of appointment and removal of Directors can be found in the Constitution.

Governing rules/Trust Deed

AustralianSuper seeks to maintain the highest standards of fund governance and control. Good governance requires strong control mechanisms that encourage good decision making, accurate and timely execution of decisions, clear and effective accountability, regular review and assessment of governance policies and procedures and transparency. You can read more about our governing rules in the AustralianSuper Trust Deed.

Board committees and attendance records

View the attendance record of Board members.

Committees of the Board

Finance and audit committee
Chair: Claire Keating
Members: Ben Davison, Jo-anne Schofield, Janice van Reyk

Investment committee 
Chair: Philippa Kelly 
Members: Ben Davison, Pippa Downes, Russell Maddox, Michele O'Neil, Richard Price, Don Russell, Glenn Thompson, Innes Willox

Member and employer services committee 
Chair: Gabrielle Coyne
Members: John Dixon, Paul Farrow, Jo-anne Schofield, Glenn Thompson, Janice van Reyk

People and culture committee
Chair: Innes Willox 
Members: Gabrielle Coyne, Michele O'Neil, Don Russell, Glenn Thompson

Risk and compliance committee
Chair: John Dixon
Members: Ben Davison, Paul Farrow, Claire Keating, Don Russell

The following policies and disclosures assist in managing our governance responsibilities.

Code of Conduct summary

AustralianSuper has a Code of Conduct for Employees and Directors which articulate the standards of behaviour expected of them. Employees and Directors of AustralianSuper are expected to carry out their duties and responsibilities professionally and ethically. Our Code of Conduct Summary provides a brief overview of the standards.

Conflicts of interests management

AustralianSuper’s Conflicts Management Policy addresses the identification, disclosure, recording and management of conflicts. Conflicts of interest (actual, potential or perceived) may arise where our employees, Directors or Responsible Persons hold interests in or owe duties to other entities in addition to those owed to the Trustee, AustralianSuper and its members. Our Conflicts Management Policy sets out how we manage conflicts of interests, ensuring that we act in the best interests of our members and beneficiaries. As part of our conflicts management processes, we also maintain a Relevant Interests and Relevant Duties register and a Gifts & Entertainment register.  Read a summary of our Conflicts Management policy.

Anti-Bribery & Corruption statement

AustralianSuper has a zero-tolerance approach towards Bribery (including Facilitation Payments) and Corruption. We are committed to conducting all business in an honest and ethical manner. Our Anti-Bribery & Corruption statement sets out our approach to deal with any form of bribery and corruption.

Remuneration policy and disclosures

As an industry superannuation fund, AustralianSuper is run only to benefit members. Our remuneration practices reflect our members-first core value and the need to resource the fund to provide quality benefits and services to members. A summary of our remuneration policy and disclosures is available in the Remuneration Report in the Fund's Annual Financial Report.

Whistleblower policy

At AustralianSuper, we expect the highest standards of behaviour from our staff, Directors and Committee Members and all staff have a responsibility to report matters that involve Improper Conduct within the organisation. We foster an open and transparent environment for reporting Improper Conduct, treat all Whistleblower reports as serious and take all reasonable steps to protect and support people who make a disclosure. The AustralianSuper Whistleblower Policy can be read for more information on how, and to whom, whistleblowing disclosures can be made and how AustralianSuper will support and protect whistleblowers.

Board diversity and skills

AustralianSuper’s Diversity, Equity and Inclusion Policy outlines how we foster and promote diversity, equity and inclusion practices and principles across AustralianSuper. It includes measurable objectives for achieving gender diversity at Trustee Board level, targeting at least 50% female composition on the Board. As at 30 June 2025, the Board met this target with 6 out of 12 Directors being female.

The Trustee values a diverse Board, which leverages varied skills, experiences, and backgrounds of Directors to enrich decision-making with a wider range of viewpoints.

Details of gender balance at Board, Executive and Management level at AustralianSuper are provided in the Annual Report to members. Reporting made by AustralianSuper to the Workplace Gender Equality Agency under the Workplace Gender Equality Act 2012 is also available here.

The Board has developed a Skills Matrix which sets out the key skills and experience that the Board is looking to achieve in its membership and the number of Directors with each skill / experience. A collective representation of the Board’s skills can be found here.

Further details about the experience and background of all our Directors is available here.

Board evaluation policy

AustralianSuper recognises Board evaluation as an important governance tool to help ensure the Board is meeting its goals and working effectively to maximise members’ financial position in retirement.

The Board Evaluation Policy requires regular reviews of the Board’s collective objectives, skills, culture, and dynamics. Individual Director performance is also assessed each year. The Board Chair leads annual internal evaluations, and an independent review is undertaken at least every three years. Board evaluation may include face-to-face meetings between Directors and the Chair (or the external consultant where an independent review is undertaken), self-assessment questionnaires and group discussions.

These evaluations allow Directors to give feedback and help the Board identify areas for improvement and future skill and experience needs. The Board discusses review outcomes and uses this insight to enhance its overall performance.

In 2025, an independent performance assessment was undertaken with the report presented to the Board at its meeting in June 2025.

Related party disclosures

For our related party disclosures refer to our Financial Statements under the 'Reports' tab below.

Supplier Code of Conduct

At AustralianSuper, we expect our Suppliers to operate their businesses, including when acting on behalf of the Fund, in a legal and ethical manner and in compliance with all applicable laws and regulations. Our Supplier Code of Conduct sets out our expectations.