Local Government Super’s longstanding chief executive Peter Lambert has stepped down, leaving chief governance officer and company secretary Donna Heffernan acting in the top job.

Lambert, who had held the role for a decade, was unavailable to comment.

Local Government Super (LGS) chair Craig Peate paid credit to the outgoing chief executive.

“Peter led LGS to achieve significant growth and wide recognition of the Fund’s leadership in responsible and sustainable investment,” Peate said.

Under the leadership of Lambert and chief investment officer Craig Turnbull, the $10 billion public-offer industry fund has carved a successful niche for itself as a highly-regarded provider for members with a focus on environmental, social and governance (ESG) issues.

In May 2016, the Asset Owners Disclosure Project ranked LGS as the number one institution in Australia for environmentally sustainable investing. Even more impressive, LGS was ranked number two globally in the study of more than 500 institutions.

Peate confirmed that Heffernan had been appointed acting chief executive and said the board had commenced the recruitment process to find a permanent replacement.

“The board will work with the new CEO to lead the next stage of the Fund’s evolution to benefit members,” Peate said.

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