Prime Super chief executive, Lachlan Baird, is to depart the $6.7 billion fund after 18 years.
Baird has been CEO at the fund since 2005 and led the profit-to-member fund through three mergers and will leave on 1 December 2023.
Remo Memmolo, chief operating officer, will take on the role of Interim CEO following Baird’s departure and while an independent recruitment process is undertaken. He has been at Prime Super since 2015
Prime Super chair, Nigel Alexander, said: “He leaves an impressive legacy with Prime Super in a strong position as we look to the future and deliver a well-considered and forward-looking strategy in a period of industry change.”
Baird said: “As Prime Super enters the next phase of its evolution, it does so with an enviable record and an excellent reputation among our partners and industry peers.
“I will leave the organisation knowing it is in great shape for the future.”
Prime Super was formed in 1996 through the amalgamation of four regional super funds and now looks after more than 143,000 members.
The fund was recently a finalist at Super Review’s annual Super Fund of the Year Awards in the Smooth Ride category.