The Australian Council of Superannuation Investors’ key governance advisor has abruptly left on the eve of annual shareholder meeting season, leading to disquiet among major retirement savings funds as the group’s chief executive refuses to explain the reason for his departure.
Known as ACSI, the organisation helps the country’s major superannuation funds – including AustralianSuper, HESTA, Hostplus, Aware Super and Cbus – decide how to vote on resolutions put to shareholders in ASX-listed companies. The body is chaired by IFM Investors’ head of external relations David Whiteley, while its long-time chief executive is Louise Davidson.
Ed John had been ACSI’s executive manager of stewardship, overseeing many of its recommendations, from shortly after it was established in 2001, and was described by one super fund official who spoke on condition of anonymity as the “real brains of the operation” and a trusted advisor.
ACSI confirmed John had departed in August, but declined to comment on the reasons for his departure. John has also been contacted for comment, but has not responded.
There has been considerable support for John on LinkedIn, with UniSuper’s manager of ESG investing, Jodie Barns, writing that he had gone “on to become one of the most recognisable and respected voices in corporate governance and stewardship”.