Link shakes up board, names super industry veteran

Link Group will reduce the number of positions on its board and has appointed a superannuation industry veteran to refresh the line-up to reflect massive changes to its business model.

Mark Lennon joins the ASX-listed firm as an independent non-executive director.

Lennon is a former board member of EISS Super from October 2021 until its merger with Cbus Super in May 2023.

He was also a director at First State Super (now Aware Super) for almost a decade and ASSET Super from 1993 to 2010.

Lennon is currently a director of Aware Financial Services, the Sydney Financial Forum, McKell Institute, and the Australian People for Health, Education and Development Abroad (APHEDA), an overseas aid agency.

He was the former secretary of Unions NSW and past president of the ALP NSW branch.

Lennon will stand for election at the upcoming annual general meeting on November 28.

Independent non-executive directors Sally Pitkin, Peeyush Gupta, and Glen Boreham will retire from their board positions.

Link's restructure in recent years include divesting Fund Solutions and the Banking & Credit Management businesses, as well as the demerger and in-specie distribution of PEXA.

In light of these changes, Link chair Michael Carapiet said the group determined it is the right time to commence an orderly succession at the board level "to reflect the Link Group's current needs as well as rightsising the number of directors".

The number of positions on the board is set to reduce from eight to six.

"I would like to thank Glen, Sally and Peeyush on behalf of the board for their valuable contributions over many years. They have been excellent colleagues and their advice and guidance have been much appreciated by the other directors and management. I would also like to welcome Mark and am very confident that he will add greatly to the board," he said.