Good governance
As a superannuation fund looking after more than $6.1 billion on behalf of over 249,000 members, it is imperative that we retain the trust placed in us through sound governance and accountability. VicSuper Pty Ltd is the Trustee of VicSuper Fund which is a public offer fund, and therefore VicSuper is subject to stringent Federal Government controls. Playing a critical role in maintaining the security and accountability of VicSuper Fund is our board of directors.
VicSuper has a board of eight directors; four member-elected directors and four employer nominated directors. All decisions made by VicSuper's directors require at least a two-thirds majority. Directors are appointed for a term of five years, after which they are eligible for re-appointment or re-election.
A Chairperson and Deputy Chairperson are appointed by the Trustee, with both positions rotated between employer-appointed directors and member-elected directors.
VicSuper's board of directors meets 12 times each year to set the direction of VicSuper Fund, and monitor and control administration, service delivery and investment management.
VicSuper directors and deputy directors during 2008/09 were:
| Director | Representation | Appointment | Deputy director |
|---|---|---|---|
| Jennifer Cassidy | Member representative | to 30 June 2009 | Dean Glare |
| Bill Lyons | Member representative | to 30 June 2009 | Alex Gagachef |
| Barbra Norris (Deputy Chairperson until 31 December 2008 and Chairperson from 1 January 2009) | Member representative | to 30 June 2009 | Paul Kennelly |
| Bill Watton | Member representative | to 30 June 2009 | Graeme McNeil |
| David Craig (Chairperson until 31 December 2008) | Employer representative | to 31 December 2013 (re-appointed on 1 January 2009) | Jack O'Connell AO from 19 November 2008 (previously vacant) |
| Angela Emslie | Employer representative | to 18 April 2009 | John Henderson until 13 March 2009 |
| Christine Forster AM | Employer representative | to 13 July 2013 (re-appointed on 14 July 2008) | Peter Salway until 13 July 2008 and Craig Cook from 19 November 2008 |
| Bruce Hartnett (Deputy Chairperson from 1 January 2009) | Employer representative | to 31 December 2013 (re-appointed on 1 January 2009) | Ron Beazley until 31 December 2008 and Fiona McNabb from 1 January 2009 |