Executives exit in REST restructure

An executive restructure within big retailing industry superannuation fund, REST has resulted in the exit of five senior fund executives.

The superannuation fund’s staff were informed this week of a restructure resulting in the departures of Chief Financial Officer, Chris Stevens, General Counsel and Company Secretary, Paul Howard, General Manager, Transformation and Technology, Sandra Coleman, General Manager, Customer Service, Beth Parkin and General Manager, Strategic Relations, Craig Hobart.

The restructure comes less than 12 months after the appointment of Vicki Doyle as chief executive effective from May, this year and leaves General Manager, People and Culture, Trevor Evans and General Manager, Investments, Brendan Casey, remaining on the executive team.

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Money Management  has sought a formal statement from REST on the issue.

Doyle was formerly director of Superannuation, Retirement and Investments at AMP.

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OMG this is insane!!! Are they all effective immediately?

Did they fail to pay their union fees?

seems very strange .

Where there is smoke there is fire, has to be some major breach to have this result and if so, why isn't ASIC investigating unless they're corrupt themselves?

ASIC have a record with this type of thing. "Do nothing (even when it is reported to you by both the institution and the RC), until you are forced to start an inquiry. Preferably about 2 weeks before you need to testify that you are doing something."
Be happy that REST is taking the job seriously.

Would ASIC even know about this? Any ASIC people out there? Should be, lunch time is over.

Maybe rather than implanting an ASIC person just in the big 4 banks, it would be as worthwhile putting them in all the ISA funds as well.

How does this change affect the customers of REST?

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