Appointment to QSuper board of trustees

 Treasurer Curtis Pitt has announced that the vacancy on the board of trustees of QSuper created by Melissa Babbage, wife of former Federal Treasurer Joe Hockey, will be filled by the Hon. Terry Mackenroth, former Treasurer and Deputy Premier of Queensland. 

“Mr Mackenroth will fill a vacancy on the nine-member board that oversees the management and investment of state public sector workers’ superannuation funds,” Mr Pitt said. 

“He replaces Ms Babbage who was appointed in June 2013 but has resigned from the QSuper board to live in Washington with her husband Joe Hockey, Australia’s new Ambassador to the United States.” 

Mr Pitt said he had planned to issue a public statement after the appointment was gazetted tomorrow but had been pleased to respond to an opposition question in State Parliament today.

“Terry Mackenroth is eminently qualified for the position and I welcome his appointment and the experience and expertise he will bring to the QSuper board,” Mr Pitt said.

“He has an extensive career in business, public administration and community service including serving as Treasurer of Queensland from February 2001 to his retirement from politics in July 2005.” 

Mr Pitt said when it came to office in February last year the Palaszczuk Government had not planned any changes to the QSuper board. 

“But a vacancy on the board was created by Ms Babbage’s resignation,” he said. 

“I take this opportunity to thank Ms Babbage for her service on the board and wish her and Joe well.” 

Mr Pitt said Mr Mackenroth’s appointment was due to be gazetted tomorrow and he had planned to make a public statement after that. 

“It is notable that when Ms Babbage joined the board from June 2013 the then Treasurer Tim Nicholls did not announce the appointment,” he said. 

“In fact it was not until August that year that the appointment was made known through a media story.” 

He said the former LNP government made seven appointments to the nine-member QSuper board. 

Mr Mackenroth is chair of Adled Advertising, director of Queensland Rugby League, director of strategic development with Springfield Land Corporation, and a past director of the Australian Rugby League and Devine Ltd, and former chair of Lenard's Holdings Pty Ltd. 

Mr Pitt said as Treasurer, Mr Mackenroth had oversight of QSuper and had served as Deputy Premier from November 2000. 

He said Mr Mackenroth had also been involved in a range of community organisations and had been appointed by past LNP and Labor state governments to serve on the Cyclone Larry Operation Recovery Taskforce, as chair of the Cyclone Larry Relief Appeal, and as a commissioner on the Local Government Reform Commission.

In January 2013 former Premier Campbell Newman appointed Mr Mackenroth to head the Queensland Flood Appeal in the wake of destructive floods in the state. 

QSuper board members serve for a term of up to three years after which they may be nominated for reappointment. 

Current QSuper board members are: 

• Chair Karl Morris — appointed as trustee December 2013 and chair from January 2014. 
• Walter Ivessa — from June 2009. Former Assistant Under Treasurer, Queensland Treasury and Trade
• Bede King — from February 2013. Partner in legal firm Tobin King Lateef. 
• Dr Steve Christie — from December 2014. Financial services professional. 
• Mick Barnes — from June 2009. General Secretary, Queensland Police Union of Employees. 
• Beth Mohle — from December 2013. Secretary, Queensland Nurses' Union. 
• Jeff Backen — from December 2013. Assistant Secretary, Queensland Teachers' Union. 
• Ruth McFarlane — from December 2013. Senior Vice-President, Together Branch of the Australian Services Union. 

The Superannuation (State Public Sector) Act 1990 requires equal employer and member representatives as well as one additional independent board member.  

Contact: 0447 316 432