Dick Shearman, chair of industry superannuation fund NGS Super, will retire after 10 years.
Deputy chair, Geoff Newcombe, would work as an interim chair until a new chair was recruited while director, Georgina Smith, would become deputy chair.
Shearman joined the board as a member-representative director in 2012 and was appointed chair in the same year. He was then appointed chair of the investment committee in 2013.
Terry Burke would take over Shearman’s role on the fund’s investment committee.
The fund, which specialised in the independent and Catholic education sector, had grown from $4.4 billion to $13 billion during his tenure and also merged with UC Super and QIEC Super.
Shearman spearheaded its strategy and the decision to move forward as a niche standalone fund focused on independent and Catholic schools, following the board’s decision not to proceed with the Australian Catholic Super merger in 2021.
He said: “After starting my career as a secondary teacher of economics and history, it’s been a great privilege to guide the industry superfund for those who work in independent and catholic education over the past ten years.”
“In reflecting upon my upcoming retirement, the future of the fund is confident. The fund’s strengths parallel those of the independent and catholic schools that we serve: quality, value and results and our market leading carbon neutral 2030 strategy.”
Acting chief executive, Natalie Previtera, said: “As Dick leaves, we’re confident we have the right foundations to deliver on strategy and grow the fund. Everyone at NGS Super, including the board and staff appreciate and have benefited from Dick’s unwavering support and guidance.”
