ART chair retires

Don Luke will step down as chair of Australian Retirement Trust next month to be replaced by Andrew Fraser, who chaired Sunsuper before it merged with QSuper to create the $200 billion super fund.

Luke will remain a non-executive director on the board until November 30.

He served as chair of QSuper before the merger and is also a former chief executive of Sunsuper.

"I'm truly passionate about the superannuation industry, and it has been an honour to serve our members over many years, including at Sunsuper as chief executive, at QSuper as chair and most recently as chair of Australian Retirement Trust," Luke said.

"It has been an immense privilege to be able to work with the board and the whole ART team to improve retirement outcomes for our members. Our members can rest assured they're in very safe and capable hands going forward."

Commenting on the appointment, ART chief executive Bernard Reilly said: "Don Luke was integral to the successful delivery of the largest and most complex superannuation merger in Australian history to form ART, leaving a lasting legacy for ART's two million members. On behalf of the board and executive team, I thank Don for his unwavering focus and commitment to acting in our members' best interests."

Fraser will lead the fund through its next phase of integration and growth.

"It is a great responsibility to chair the board of Australian Retirement Trust. I am grateful for the trust and confidence of my fellow trustee directors, and I very much look forward to continuing to work to grow and guard the retirement savings of the two million Australians who entrust us with their superannuation," he said.

"Don's contribution to Australian Retirement Trust, and QSuper and Sunsuper before the merger is peerless. He is an outstanding individual and I've been grateful to work with and for him. I know my colleagues wish him the very best as he moves into the next phase and look forward to celebrating his achievements and service in the coming months."