Greg Camm, the chief executive of Australia’s biggest superannuation back-office company, says he will quit at the end of August, the Australian Financial Review reported.
Citing a letter written by Camm, the newspaper says the CEO is leaving when his contract expires as he is unable to commit to another four or five years at Superpartners.
“Given the volume and pace of change we are entering, the board wants someone to commit to steer the ship for the next four to five years, and given my age and ambitions, I’m not able to make that commitment,” the paper quoted Camm as writing.
Superpartners has begun to switch its superannuation fund clients to a new administrative platform. The total bill for the new administrative platform is $200 million, almost three times its original cost estimate as the delivery of the project, originally scheduled for 2010, has been delayed until 2013, according to the paper.
Superpartners confirmed Camm’s scheduled departure but did not give any more details.