The chief executive of industry superannuation fund TWU Super, Paul Sayer, has resigned after spending less than a year in the role, with a former CEO returning to the top job.
The fund's former chief executive, Bill McMillin, will replace Mr Sayer.
"With the fund's head office based in Melbourne and Paul's family and interests outside of work based in Sydney, the demands of commuting, along with the travel involved in the role, proved difficult," said TWU Super chairman David Galbally.
"The board thanks Paul for his service and wishes him well in the future."
In 2014, Mr Sayer became the fourth TWU Super chief executive in two years.
He took up the role in October 2014, having left his position at another industry superannuation fund, REST Superannuation, to move to TWU Super.
Mr Sayer had joined REST in 2006 as chief operating office and previously held senior roles at ING and AMP.
"The board is pleased that Bill, who has been assisting myself and the board in a consulting capacity, has agreed to return to the role of CEO in a full-time capacity," Mr Galbally said.
SUBSCRIBE TO THE IFA DAILY BULLETIN
- 19 Feb 2019ASIC to ‘fully implement’ Hayne recommendationsBy James Mitchell
- 19 Feb 2019CFS hamstrung advisers as they left for DoverBy Adrian Flores
- 18 Feb 2019ASIC appeals Westpac best interests court decisionBy Adrian Flores
- 18 Feb 2019FASEA mostly funded by the major banksBy Adrian Flores
- 19 Feb 2019Great advisers are going to thrive: Dow JonesBy Eliot Hastie
- 15 Feb 2019ASIC to undertake harsher penalties against banksBy Eliot Hastie
- view all