State Super today announced that Michael Carapiet has decided to step down as member and Chairperson on the Trustee Board. Mr Carapiet served as Chair since being appointed by the Government on 1st August 2011.
"I would like to take this opportunity to thank the Government for appointing me as Chair of SAS Trustee Corporation and express my sincere appreciation for the privilege of serving in this prestigious role."
During his time as Chair, the fund has performed well and the executive management team has been substantially augmented, resulting in stronger risk management, governance and investment processes and systems.
Board members are a mix of employee and employer representatives with an Independent Chair and are appointed by the Minister for Finance.
An announcement on a replacement Chairperson will be made in due course.