David May, chairman of the board of the guardians of New Zealand superannuation, today announced the resignation of chief executive officer (CEO) Paul Costello.
Costello is leaving to take up the position of general manager of the future fund management agency, based in Melbourne, Australia. He will remain in his capacity as CEO for the next few months.
Costello's decision to leave the role was driven by the family's wish to relocate to Melbourne, where they had been living prior to his taking up the role with the Fund in March 2003.
The Board has commenced a formal search for his successor, a process which is expected to take several months.
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