NGS Super chair departs

NGS Super has announced the retirement of chair Dick Shearman after ten years on the board.

The industry fund for the independent education sector said deputy chair Geoff Newcombe will step into the role on an interim basis while the board recruits a new chair.

Georgina Smith will be acting deputy.

Director Terry Burke will chair the investment committee.

Shearman joined the board as a member-representative director in 2012 and was appointed chair in the same year.

In 2013, Dick was appointed chair of the investment committee and served on the NGS remuneration and governance committee.

During his tenure, Shearman played a pivotal role in the fund's significant growth - from $4.4 billion in 2012 to $13 billion now - and oversaw the UC Super and QIEC Super mergers.

Shearman spearheaded a re-energised strategy for NGS Super - to move forward as a niche standalone fund focused on independent and Catholic schools.

This strategy followed the board decision not to proceed with the Australian Catholic Super merger in 2021.

In announcing his decision to retire from the board, Shearman said: "After starting my career as a secondary teacher of economics and history, it's been a great privilege to guide the industry super fund for those who work in independent and catholic education over the past ten years."

"In reflecting upon my upcoming retirement, the future of the fund is confident. The fund's strengths parallel those of the independent and catholic schools we serve: quality, value and results and our market-leading carbon neutral 2030 strategy."

"As Dick leaves, we're confident we have the right foundations to deliver on strategy and grow the fund. Everyone at NGS Super has benefited from Dick's unwavering support and guidance," added acting chief executive Natalie Previtera.

"We sincerely thank him for his many years of service and commitment to our members and wish him all the best for a long and happy retirement."