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IN THE NEWS GESB Mutual unveils inaugural board

DESPITE no firm launch date having been set for its delayed mutualisation, $9 billion fund manager GESB has unveiled a highly experienced seven-member board. GESB Mutual Ltd chairman Wayne Osborn last week revealed the fund manager?s inaugural board, saying the experience of the seven members would provide a strong foundation. On the board are former Woodside executive vice-president and current Clough director Keith Spence, former Alinta and HBF director Fiona Harris, and Macquarie Bank and ASX director Peter Warne. Macquarie Private Capital Group and ABN AMRO Investments Australia director Andre Morony is also on the GESB board, as is Verve deputy chairman and Navitas director Harvey Collins. The seventh board member is current GESB chief executive and former BankWest chief financial officer, Michele Dolin. ?The skills and experience of the directors underline the strength of the organisation and its ambitions under the new member-owned structure,? Mr Osborn said. GESB Mutual was set for launch on July 1, which would have resulted in ownership of the former Government Employees Superannuation Board being handed over to its 290,000 members. However, then-treasurer Eric Ripper stopped the transaction at the 11th hour. Under the Carpenter government, GESB Mutual was set for launch sometime in November, however that may alter with the change of government. GESB is currently working with State Treasury to finalise the transition to GESB Mutual.

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