Future Fund CEO Raphael Arndt to Step Down
Australia Future Fund CEO Raphael Arndt will step down at the end of the year after leading the sovereign wealth fund for six years. Chair Greg Combet has not yet named a successor for the A$356 billion fund.
Australia's Future Fund CEO Raphael Arndt will step down at the end of the year to return to the private sector. Arndt departs after six years as CEO and a prior six-year stint as chief investment officer, making him the longest-serving head in the fund's 20-year history. The sovereign wealth fund managed A$356 billion ($255.00B) in assets as of June 30.
Chair Greg Combet did not name a successor in Wednesday's statement. Arndt said he leaves the fund with a highly capable leadership team supported by a strong board.
