ASCI CEO steps down

The Australian Council of Superannuation Investors (ACSI) has announced its CEO, Gordon Hagart, has resigned to go back to Europe.

He said the decision was right for his family.

"This has been a very difficult decision to take. I've loved every minute of my time in Australia at two great organisations — ACSI and before that the Future Fund — doing work that I believe is very important for the beneficiaries of long-term institutional investors," he said.

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Hagart has agreed to stay until Easter to ensure a smooth transition to a new CEO, as the industry fund body starts its search process to replace him.

He was appointed as ASCI CEO in September 2013 when he took over the role from Ann Byrne.

Before that he was Future Fund's head of environmental, social and governance (ESG) risk management. He has also worked with the United Nations environment program in Geneva where he helped develop the Principles of Responsible Investments (PRI).

ACSI represents 31 industry super funds, which collectively manages over $400 million.

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