Following the resignation of CEO Robin Burns after a seven-year stint, the board of $4 billion hybrid fund Equipsuper is meeting this week to job-scope his replacement.
Burns, who ostensibly goes to Equity Trustees in February, will stay until an undetermined date in the first quarter of 2010.
Equipsuper communications manager Geoff Brooks said the biggest hurdle for the new CEO would be the fund’s imminent change of member administrator from Precision Administration to Mercer, scheduled for next year.
“The appointment’s not something we’ll rush into,” said Brooks. ”We’ll take as long as it needs to take to find the right person.”
The main task for the new CEO will be bedding down the change to Mercer to ensure good service and communications with members, Brooks said. Equipsuper is an extremely complicated fund, with a multitude of grandfathered defined benefit sections.
Brooks said there’d been no discussion as yet about the scope of the search, or whether a headhunter would be engaged.