Rest Industry Super announces that Chief Executive Officer Damian Hill has advised the Board of his intention not to seek a renewal of his employment contract at its conclusion in January 2018.
Friday, 23 June 2017
Rest Chairman Ken Marshman praised Mr Hill’s leadership and his contribution to Rest, one of Australia’s largest superannuation funds with around 2 million members and $45 billion in funds under management.
The Board intends to engage an executive search firm to assist with a search for a successor and will be looking both internally and externally. Damian Hill has agreed to continue in his role to ensure stability and to assist in transferring executive responsibility once an appropriate CEO has been installed.
“Damian has led Rest through several significant periods of industry change and transformation during his tenure as CEO, and is responsible for Rest being an industry leader and innovator,” Mr Marshman said.
“He leaves Rest in a very strong position for the future, and we sincerely thank him for his contribution and leadership. In typical fashion, he has provided the Fund with ample notice in order to ensure a seamless transition.”
Damian Hill was appointed CEO of Rest in 2006, having joined the Fund in 1999 as Administration Manager.
“It has been my great privilege to work with an exceptionally dedicated and skilled team whose enthusiasm and hard work have helped propel Rest from $2 billion AUM to now close to $45 billion AUM,” said Damian Hill.
“I am proud of what we have accomplished on behalf of our members and staff, and Rest now has great momentum and is in a position of strength. I believe now is an appropriate time for me to move to the next stage of my career. After 19 years at Rest, more than 11 of them as CEO, I am excited about the prospect of seeking a new management challenge.”
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