Industry fund appoints former Labor politician

A $46 billion industry fund has appointed a former federal health minister as an independent chair, starting at the end of the year.

Nicola Roxon will take over as HESTA's chair when current chair Angela Emslie steps down at the end of her term on December 31.

Roxon was the first woman to be appointed Attorney General. During her time as the Federal Health Minister, she introduced plain packaging for tobacco products.

She currently chairs Bupa Australia and New Zealand, and Cancer Council Australia. She is also a non-executive director at Dexus and Lifestyle Communities.

Roxon is stepping down from two roles to focus on HESTA's chair position - as the chair of the Accounting Professional and Ethical Standards Board and as an adjunct professor within the College of Law and Justice at Victoria University.

HESTA chief executive Debby Blakey said: "We are delighted to welcome Nicola to HESTA. Her rich experience in health and governance will be a huge asset as we continue to focus on being leaders in the superannuation sector and making a real difference to the financial future of our members."

Outgoing chair Emslie leaves after eight years as HESTA's chair and 20 years as a director.

"Angela is such a big part of the unique Board culture at HESTA that's so strongly imbued with the values of the health and community sector and is deeply dedicated to our members' best interests," Blakey said.

"A true pioneer in responsible investment, Angela has been an inspiring leader and influential advocate for members and the industry fund sector. Angela's also been an incredible support and mentor to so many in the industry, including me, for which I am enormously grateful.

"Angela leaves with HESTA enjoying the highest rating from all independent superannuation ratings agencies and with the fund recognised as a global leader in responsible investment. It's an outstanding legacy, which has helped set the fund up for long-term success in the years ahead."

Read more: HESTAFederal Health MinisterAccounting ProfessionalAngela EmslieAttorney GeneralBupa AustraliaCancer Council AustraliaCollege of LawDebby BlakeyEthical Standards BoardJusticeLaborNew ZealandNicola RoxonVictoria University
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