Cbus CEO steps down

Cbus Super chief executive, David Atkin, will leave the superannuation fund in mid-2020 after over 12 years at the helm.

Commenting, Cbus Super Chair, Steve Bracks said the fund had grown from $12 billion in funds under management to $56.5 billion today under Atkin’s leadership.

During his tenure, Cbus had been ordered to apologise to over 300 of its members after a privacy breach was found by the Australian Privacy Commissioner in 2018. The fund was found to have disclosed personal member information to a third party without their consent.

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Atkin’s will remain as the CEO until the fund appoints his replacement which is expected to be finalised by mid-2020.

Bracks said Atkin’s leadership on responsible investment and corporate reporting would be a lasting legacy for the industry.

“David’s role in making climate change a prominent focus for investors has been a particular focus,” Bracks said.

“David is an elder statesperson of the responsible investment community both in Australia and overseas.

He noted that the fund was also recognised as an employer of choice and Atkins had driven a strong focus on gender diversity and the positive impact it had on investment outcomes and broader fund performance.

Atkin’s said the timing was right for the next CEO to take the fund forward.

“It's been a privilege to lead a fund with such a strong understanding and connection to its history,” he said.

"Cbus members fought for and won the right to superannuation at time when super was only for white collar professionals.”


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