Board process & structure

Corporate governance

Our Board operates within a strict governance framework.

Rules relating to the 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 are also 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

AustralianSuper is governed by a legal document that sets out rules for running a super fund.

This is the AustralianSuper Trust Deed.

The IBM Superannuation Plan, a defined benefit corporate super plan within AustralianSuper, also has a section specification document that lists further governing rules relevant to that plan.

Board attendance records

View the attendance record of Board members.

Committees of the Board

Audit, compliance and risk management committee

Chair: Grahame Willis

Members: Paul Bastian, Brad Crofts, Anne Flanagan, John Ingram, Warren Kensett-Smith

Investment committee

Interim Chair: Nixon Apple

Members: Peter Burn, Jim Craig, Brad Crofts, Brian Daley, John Ingram, Russell Maddox, Stephanie Weston

Member and employer services committee

Chair: Brian Daley

Members: Lucio Di Bartolomeo, Mike Nicolaides, Michele O'Neil, Heather Ridout, George Stamas

Nomination and remuneration committee

Chair: Innes Willox

Members: Brian Daley, Scott McDine, Heather Ridout

Budget review committee

Chair: Gemma Pinnell

Members: Brian Daley, John Ingram, Grahame Willis

DB Actuarial Reports

AustralianSuper administers one Defined Benefit plan and the Actuarial Report for this is as follows:

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