Experienced superannuation executive, Mark Lennon, has joined the board of Link Group as an independent non-executive director.
Lennon has served on the boards of several super funds including Energy Industries Superannuation Scheme (EISS) from October 2021-May 2023, First State Super from 2010-2019 and Asset Super from 1993-2010.
In an ASX statement, Link said: “The Link Group board has determined it is the right time to commence a measured and orderly succession at board level, to reflect the Link Group’s current needs as well as rightsizing the number of directors.”
This will see the number of directors reduce from eight to six.
Independent non-executive directors, Sally Pitkin, Peeyush Gupta and Glen Boreham will step down from the board on 28 November.
Link Group chairman, Michael Carapiet, said: “I would like to thank Glen, Sally and Peeyush on behalf of the Board for their valuable contributions over many years. They have been excellent colleagues and their advice and guidance have been much appreciated by the other directors and management.
“I would also like to welcome Mark and am very confident that he will add greatly to the board.”
Earlier this month, the firm divested its Funds Solutions business and its Banking and Credit Management business as well as the de-merger and in-specie distribution of PEXA earlier this year.
This has left it well placed to focus on Retirement and Superannuation Solutions (RSS) and corporate markets business.
Link currently services around 38 per cent of all super members in Australia and administered more than 10 million pension accounts worldwide.
Last November, the firm appointed Nicola Scott as chief financial officer of its RSS business and appointed Rebel Jones in March as general manager for partnerships, Asia. It also agreed a partnership with HSBC to bring its RSS business to the Hong Kong pension market.
The RSS business would work with HSBC to deliver digital administration and value-added services to HSBC’s Occupational Retirement Scheme Ordinance (ORSO) clients.
