TWUSUPER chief executive Bill McMillin has resigned after one year in the role – the second time he has resigned the position.

Chief financial officer Frank Sandy has taken on the role of acting chief executive, with Wayne Jones becoming the acting chief financial officer, while a full-time replacement is sought.

A TWUSUPER spokesperson told Investment Magazine that Bill had decided to retire and thanked him for his long service and achievement in guiding the fund.

McMillin resigned from his first stint as TWUSUPER chief executive in January, 2013, and was succeeded by Debora Jackson. She departed at the end of that year citing personal reasons.

Frank Sandy took over as acting chief executive until Paul Sayer, formerly the chief operating officer of REST, was appointed in late 2014.

After Sayer’s departure in September 2015, the board brought McMillin back as their chief executive.

TWUSUPER is a $4 billion industry fund aligned with the Transport Workers’ Union. Its contributing employers include some of the country’s biggest employers in the transport and logistics sector, including Brambles and Linfox.

For the year to 30 June 2016, TWUSUPER’s balanced (MySuper) investment option returned 3.05 per cent, beating the industry average for the period.