Cbus appoints new Board Directors

2 November 2017

Cbus Super is pleased to announce the appointments of Dr John Edwards and Mrs Denita Wawn to the Board of Directors.

Board Chair Steve Bracks said the two new board members bring an impressive set of skills and experience that will help drive continued strong outcomes for members.

“Cbus is delighted to welcome John and Denita to the Board and we look forward to working with them to continue our program of transformation which is driven by a total focus on getting the best possible retirement outcomes for members,” Mr Bracks said.

“Cbus is a stand-out performer in terms of both investment returns and fund growth, with a capable Board of Directors and talented and committed staff”.

“Our Fund returns all profits to members and has continued to achieve outstanding performance with a return this financial year of 11.85% placing us in the top 25% of Australian superfunds over 1,3,5,7 and 10 years.[1]

“We look forward to continuing this success with Dr Edwards and Mrs Wawn as part of the team.”

Dr Edwards said he was pleased to be joining Cbus at a key point of transformation for the Fund.

“With the Fund expected to grow to more than $60 billion within four to five years, I look forward to contributing to key innovations so we can continue to lead and deliver for our members,” Dr Edwards said.

Mrs Wawn said she is looking forward to driving continued growth in the Fund including amongst employers of which there are currently more than 125,000.

“A strong understanding of the building and construction industry is a key driver of the Fund’s success. It resonates with members and employers,” Mrs Wawn said.

Dr Edwards comes to the Fund most recently having completed a five-year term as a member of the Board of the Reserve Bank of Australia and is currently a non-resident Fellow at the Lowy Institute, an Adjunct Professor with the John Curtin Institute of Public Policy at Curtin University, and an economic consultant.

Mrs Wawn is the National Chief Executive Officer (CEO) of the Master Builders Association (MBA) following her appointment in March this year. Mrs Wawn was previously the MBA General Manager Operations and prior to that was CEO of the Brewers Association of Australia and New Zealand.

Dr Edwards has been appointed as an Independent Director and replaces Mr John Dawkins who finished his term in June this year. Mrs Wawn will replace Mr Wilhelm Harnisch.

Both Directors have been appointed for a term of 3 years. Mrs Wawn will serve as an Alternate Director prior to assuming a role as a Director on 12 December.

Dr. John Edwards

Dr Edwards completed a five-year term as a member of the Board of the Reserve Bank of Australia in 2016. He is a non-resident Fellow at the Lowy Institute, an Adjunct Professor with the John Curtin Institute of Public Policy at Curtin University, and an economic consultant. He is member of the Board of CEDA and, prior to joining the RBA Board, he headed economic planning and development for the Kingdom of Bahrain.  

Dr Edwards was Chief Economist for Australia and New Zealand for the global financial group, HSBC. Earlier he had been a principal economic adviser to Treasurer and then Prime Minister, Paul Keating.

He brings a strong understanding of economics, as well as a comprehensive knowledge of policy making through his time as an adviser to the Federal Government. He also has strong governance and financial services experience through his time on the Reserve Bank Board.

Mrs Denita Wawn

Mrs Wawn joined the MBA National Board on her appointment as National CEO in March 2017. From January 2016 to February 2017 she was Master Builders Australia's General Manager Operations.

From 2012-2016 Mrs Wawn was CEO of the Brewers Association of Australia and New Zealand where her duties included representing the interests of multinational companies to federal and state policy makers and regulators.

Mrs Wawn’s corporate governance experience includes her role as Chair of the Worldwide Brewers Alliance and the Alcohol Beverages Advertising Code (ABAC) Scheme among other financial services directorships. She has completed a Bachelor of Arts and Bachelor of Laws at the University of Tasmania.

 

[1] Superratings SR50 Balanced Fund Survey, period ending 30 June 2017. Based on the crediting rate, which is the return minus investment fees, the Trustee Operating Cost and taxes. Excludes account keeping administration fees. Past performance is not a reliable indicator of future performance.