Harry Mitchell, group CEO of A$11.5 billion ($8.9 billion) Mine Super since 2016, is stepping down to become managing director of Recreo Financial, a financial technology firm the Sydney-based superannuation fund owns a stake in.
Vasyl Nair, Mine Super's group deputy CEO, will become acting group CEO through June 30, 2022, according to a Mine Super news release.
During the period, a search for a permanent replacement will be conducted, the news release said.
Mr. Mitchell could not immediately be reached for further comment. A spokeswoman for Mine Super could not be reached.
Mine Super owns a signficant stake in Recreo, the release said.
A separate, joint news release Tuesday said Recreo — a cloud-based, superannuation administration provider — will merge with Certane, a Sydney-based provider of trustee services. The two firms will combine under the Certane name before the end of May.
A spokeswoman for Certane confirmed Mr. Mitchell's appointment as Recreo managing director.