TWUSUPER team

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TWUSUPER is a not-for-profit Industry Super Fund for the transport and logistics industry.

Diversity and Inclusion Policy

TWUSUPER has committed to creating a diverse and inclusive work environment. We are committed to equality and treating all individuals – our employees, stakeholders, and the communities in which we operate – with fairness and respect. This helps foster an environment where we are accepting of difference, and embrace curiosity and change to drive positive outcomes for our members.

On behalf of our Board, our Chair, Nick Sherry and on behalf of the Management Team, Chief Executive, Frank Sandy have personally committed to creating and maintaining a workplace environment that is safe, respectful and inclusive.

We have a Diversity and Inclusion Policy that aligns to our corporate values and culture, along with a Diversity and Inclusion Action Plan – that sets out the actions that we have undertaken and our future actions to support the policy.

Our Board ensures TWUSUPER looks after the best interests of all members, and we have a skilled and experienced management team looking after the day-to-day operations of the Fund.

The executive team

Position	Name
Chief Executive Officer	Frank Sandy
Chief Financial Officer	John Arnott
Chief Investment Officer	Edward Smith
Chief Governance Officer	Tom Jarosz
Chief Operating Officer	Matt Licheri
Executive Manager Stakeholders and Marketing	Tony Buckley
Manager, Trustee Services	Lou Coia
Human Resources Manager	Sue Lowe

The Trustee has a documented process for evaluating the performance of the executive team. These evaluations are carried out annually by the Chief Executive Officer or, in the case of the Chief Executive Officer, the Board.

Trustee Directors

The TWUSUPER Board is a representative board that includes both employer and employee representatives.

This board structure is recognised by peak super bodies such as the Australian Institute of Super Trustees (AIST) and the Industry Funds’ Forum as providing the best governance model for Australian Industry SuperFunds.

an Independent Chairman
four employee representatives, nominated by the Transport Workers’ Union of Australia (TWU)
four employer representatives, nominated by the Australian Road Transport Industrial Organisation (ARTIO)
up to six alternate directors, nominated by their respective representatives.

Employee Directors	Employer Directors
Independent Chairman	Nick Sherry
Michael McNess	Peter Anderson
Richard Olsen	Michelle Harwood
Michael Kaine	Gary Mahon
Timothy Dawson	Laurie D’Apice
Ian Smith (Alternate)	Campbell Dumesny (Alternate)
Nick McIntosh (Alternate)

Board attendance records for the last 7 years and details of former Directors are included in the Board attendance records section below.

Performance evaluation

The Board has procedures for annually assessing the Board’s performance relative to its objectives and the performance of its Directors. Annual assessment of performance includes:

review of performance against the Trustee’s strategic objectives
assessment of the Board and Directors in line with the Fit and Proper Policy and the Appointment and Renewal Policy
adherence to the Trustee’s governance framework.

Summary of procedures

The Board may conduct the annual performance review with the assistance of an external consultant. Its overall aim is to identify any issues relating to the Board’s operation that might prevent or hinder it from carrying out its functions. It involves Director surveys and/or interviews and a review of records relating to Directors’ adherence to Fund policies. The results of these are analysed to assess perceived strengths and development areas for the Board as a whole. A report of the assessment is considered by the Board and action plans are developed and implemented, as necessary, and monitored by the Board at each meeting.

Assessment of the competency of the Board and its individual Directors is conducted annually by the Trustee Secretariat under the Fit and Proper Policy. The fitness of a Director to continue in office is also reviewed at the end of each term, having regard to time already served on the Board, fitness and propriety and other factors.

Where a Director is found not to be fit and proper or other grounds for removal apply under the company constitution, the Trustee will take all reasonable steps to ensure that the person does not continue as a Director. In the case of a Director failing only to meet training requirements, the Board through its Audit, Risk and Compliance Committee will first attempt to assist the Director to meet those requirements.

Committees

Audit, Risk and Compliance
Communications and Marketing
Complaints and Appeals
Investment
Operations and Remuneration

Board attendance records

The table below shows the board meetings attended by TWUSUPER Directors in the last 7 years.

Financial year	2016/17	2017/18	2018/19	2019/20	2020/21	2021/22	2022/23
No. of board meetings	6	6	6	7	7	7	6
Director Attendance
Current Directors
Peter Anderson	6	6	6	6	7	7	6
Laurie D'Apice¹¹	N/A	N/A	N/A	N/A	1	5	5
Tim Dawson²¹	5	5	6	7	7	6	6
Michelle Harwood¹²	N/A	4	6	7	7	7	6
Michael Kaine¹⁶	4	3	5	4	4	6	5
Gary Mahon¹³	4	4	4	6	5	6	4
Richard Olsen¹⁴	4	5	4	6	6	7	6
Nicholas Sherry¹⁵	N/A	N/A	N/A	N/A	N/A	1	6
Campbell Dumesny (Alternate)¹⁷	N/A	N/A	N/A	N/A	3	7	6
Nick McIntosh (Alternate)¹⁸	N/A	N/A	N/A	6	6	5	5
Michael McNess¹⁹	N/A	N/A	N/A	N/A	N/A	1	5
Ian Smith (Alternate)²⁰	2	6	4	4	5	6	4
Former Directors
David Galbally AM QC¹⁰	5	4	5	6	6	4	N/A
John Berger¹	6	5	6	7	6	7	2
Paul Ryan (Alternate)²	5	3	5	6	7	6	3
Peter Biagini³	6	6	5	7	6	N/A	N/A
Peter Garske⁴	3	N/A	N/A	N/A	N/A	N/A	N/A
Hugh McMaster⁵	5	5	6	7	2	N/A	N/A
Tony Sheldon⁶	4	5	3	N/A	N/A	N/A	N/A
Dennis Sutton⁷	5	5	N/A	N/A	N/A	N/A	N/A
Ray Wyatt (Alternate)⁸	3	N/A	N/A	N/A	N/A	N/A	N/A
Robin Phillips (Alternate)⁹	6	1	N/A	N/A	N/A	N/A	N/A

Notes

1 Resigned as Director on 30/09/2022.
2 Resigned as Alternate Director on 02/12/2022.
3 Resigned as Director on 24/05/2021.
4 Resigned as Director on 30/11/2016.
5 Resigned as Director 31/03/2021.
6 Resigned as Director 11/04/2019.
7 Commenced as Director on 22/09/2016. Resigned as Director on 23/07/2018.
8 Alternate Director from 08/04/2011 to 14/02/2017.
9 Resigned as Director on 10/08/2017.
10 Ceased as Independent Director and Chairman of the Board on 01/05/2022.
11 Commenced as Director 03/06/2021.
12 Alternate Director from 07/12/2017 to 02/08/2018. Director since 02/08/2018.
13 Attended 22/09/2016 Board meeting as an observer. Director since 01/12/2016.
14 Commenced as Director on 22/09/2016.
15 Commenced as Independent Director and Chairman of the Board on 01/05/2022.
16 Alternate Director from 19/04/2007 to 06/06/2019. Director since 06/06/2019.
17 Commenced as Alternate Director on 03/12/2020.
18 Commenced as Alternate Director on 06/06/2019.
19 Commenced as Director on 31/10/2022.
20 Commenced as Alternate Director from 06/04/2017.
21 Commenced as Alternate Director on 26/06/2014 to 03/06/2021. Director since 03/06/2021.

Trustee service providers

The Trustee engages the following third-party providers in the management of TWUSUPER.

Material providers

Function	Provider	ABN
Administrator	Mercer Outsourcing (Australia) Pty Ltd	32 005 315 917
Custodian and investment administrator services	BNP Paribas Securities Services	87 149 440 291
Internal auditor	PricewaterhouseCoopers	52 780 433 757

Key providers

Function	Provider
External auditor and tax adviser	Ernst & Young
Actuary	Mercer (Australia) Pty Ltd
Financial advice provider	Industry Fund Services Ltd
Investment adviser	JANA Investment Advisers
Investment managers	See investment managers below
Legal adviser	Sparke Helmore Lawyers
Group life and income protection insurer	TAL Life Limited (was CommInsure until 27 May 2017)
Trustee liability insurer	IFS Insurance Solutions Pty Ltd

Investment managers

TWUSUPER engages investment managers to invest members’ money across the different asset classes.
We closely monitor the investment performance of each investment manager and from time to time new investment managers are appointed and others terminated.
TWUSUPER uses JANA Investment Advisers to help set the investment strategy, select investment managers and monitor performance.
See investment managers