News

NGS Chair of the Board Dick Shearman retires

15 Nov 2022 2 min read

After over 10 years on the NGS Board of Directors, Chair Dick Shearman has announced his retirement.

Dick joined the Board as a member-representative director in 2012 and was appointed as Chair in the same year. In 2013, Dick went on to be appointed Chair of the Investment Committee. He has also served on the NGS Remuneration and Governance Committee.

Dick has had a long and distinguished career in the education sector. He started his career as a secondary teacher of economics and history. He then spent 23 years as the General Secretary/Treasurer of the Independent Education Union NSW.

During his time on the NGS Trustee Board, Dick oversaw the UC Super and QIEC Super mergers. The Fund has also grown significantly during his tenure — from $4.4 billion in 2012 to $13 billion today. In his 10 years as Investment Committee Chair, Shearman oversaw the development of internal investment capability premised on robust internal processes and strong governance. Using this basis the Fund has been able to leverage a number of unique investment opportunities which has contributed to its success.

Following the Board's decision not to proceed with the Australian Catholic Super merger in 2021, Dick played a pivotal role in defining a reenergised strategy for NGS and the decision to move forward as a niche standalone fund focused on independent and Catholic schools. As Dick leaves, we are confident we have the right foundations to deliver on this strategy and grow the Fund.

Deputy Chair Dr Geoff Newcombe AM will take on the role of Interim Chair while the Board recruits for an independent Chair. Director Georgina Smith will act in the role of Deputy Chair during this time. Director Terry Burke has been appointed as the Chair of the Investment Committee.

Everyone at NGS Super, including the Board and staff, will miss Dick’s unwavering support and guidance. We sincerely thank him for his many years of service to the Fund and his commitment to our members. We wish Dick all the very best for a long and happy retirement.

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