Chief executive of A$13 billion Telstra Super to step down in August

Martin Crowe, CEO of Telstra Super, Melbourne, Australia, will retire on Aug. 30, according to a Telstra Super news release Thursday.

Brian Jacobs, a spokesman for Telstra Super, with A$13 billion (US$13.3 billion) Australia's largest corporate superannuation fund, said in an e-mail that there is no replacement at this time.

In the release, Mr. Crowe said he is looking forward to “winding down” and spending more time with his family.

In a telephone interview, Alex Dunnin, the Sydney-based head of research with superannuation fund and investment sector research firm Rainmaker Group, said under Mr. Crowe's leadership for the past five years, Telstra Super has been highly regarded for consistently strong investment results and a reputation for innovation.