Kevin Bungard is departing his chief executive role with self-managed superannuation fund (SMSF) administration specialist company, Class Limited.
The company has announced Bungard is stepping down from his role by mutual agreement with the board, after having started in April, 2014.
The announcement said Bungard and the board had agreed that the next stage in the company’s growth required new leadership and that this represented the right time to hand over the reins.
It said a search had begun for a new CEO, including evaluating the potential of internal successors.
The announcement said Bungard would step down after a brief transition period with chief financial officer, Glenn Day, taking on the role of acting CEO.
The fund has hired a former ART executive as its new head of group strategy.
The sovereign wealth fund has revealed six internal hires to support the execution of key strategies.
The fund has announced the departure of a second senior executive in as many months, with its chief member officer to finish up mid-December.
The $89 billion fund has announced a new leadership role within its private markets team.