David Gonski will step down as Chairman of the Future Fund Board of Guardians in January to take a new position as Chairman of ANZ Bank. He has served as Chairman of the Future Fund since 2012 and leaves the fund well positioned for continued strong performance. Under his leadership, the Future Fund has grown to over $90 billion and achieved returns exceeding its targets over 3 and 5 year periods. The government thanks Mr. Gonski for his outstanding service and wishes him well in his new role.
David Gonski will step down as Chairman of the Future Fund Board of Guardians in January to take a new position as Chairman of ANZ Bank. He has served as Chairman of the Future Fund since 2012 and leaves the fund well positioned for continued strong performance. Under his leadership, the Future Fund has grown to over $90 billion and achieved returns exceeding its targets over 3 and 5 year periods. The government thanks Mr. Gonski for his outstanding service and wishes him well in his new role.
David Gonski will step down as Chairman of the Future Fund Board of Guardians in January to take a new position as Chairman of ANZ Bank. He has served as Chairman of the Future Fund since 2012 and leaves the fund well positioned for continued strong performance. Under his leadership, the Future Fund has grown to over $90 billion and achieved returns exceeding its targets over 3 and 5 year periods. The government thanks Mr. Gonski for his outstanding service and wishes him well in his new role.
The Hon. J. B. Hockey MP Treasurer Senator the Hon.
Mathias Cormann Minister for Finance Wednesday, 18 December 2013
DAVID GONSKI DEPARTURE FROM FUTURE FUND
Mr David Gonski AC has announced that he will leave his position as Chairman of the Future Fund Board of Guardians in January to take up a position as Chairman of the ANZ Bank. Mr Gonski has served as Chairman of the Future Fund Board of Guardians with distinction since April 2012. He leaves the Future Fund very well placed to continue its strong performance and maximise returns over the long term. The Future Fund is now in its eighth year of operation with an investment portfolio that has grown to over $90 billion. In its 2012-13 annual report the Future Fund reported a strong performance with a 15.4 per cent annual return. In its portfolio update as of 30 September 2013, the Future Fund reported returns of 9.7 per cent per annum over 3 years, and 8.2 per cent over five years. These exceeded the Funds target returns of 7.0 per cent and 6.8 per cent for the same periods. The Government is very grateful to Mr Gonski for his outstanding performance as only the second Chairman of the Future Fund Board of Guardians. He remains one of the most eminent directors in corporate Australia and we wish him well in his role at the ANZ Bank. [ENDS] Media Contacts: For Mr Hockey: For Senator Cormann: Gemma Daley Karen Wu 0418 148 821 0428 350 139