“ACSI has been fortunate in always having dedicated and enthusiastic board members, and we’re very happy to welcome three new directors,” the council said in a LinkedIn post last week.
“We look forward to working with them as we continue to promote strong ESG management and practices.”
Namely, Galvin is the current CEO of Victorian Funds Management Corporation (VFMC) and has held the role for almost three years.
Before joining VFMC, Galvin was at NAB where she was responsible for NAB Health. Prior to this, she held multiple senior roles with JBWere and Goldman Sachs JBWere.
Meanwhile, Kerlin has been chief member officer of AustralianSuper for almost two years and has been with the fund since 2010.
During her time with AustralianSuper, she has worked across several growth roles and has managed multiple industry fund mergers and corporate transitions.
Moreover, Miller has served as TelstraSuper’s chief investment officer for more than eight years and brings over three decades of experience in the financial services industry to ACSI’s board.
Before joining TelstraSuper, Miller was director and chairman of IMCA Australia and spent 16 years at Willis Towers Watson across senior investment services and consulting roles.
Galvin, Kerlin, and Miller’s appointments will expand the board to a 15-member team, which includes ACSI chair and HESTA CEO Debby Blakey as well as deputy president and CareSuper chair Linda Scott.
Also last week, research from ACSI revealed that ASX 100 CEOs received a median bonus of 66.3 per cent of their maximum potential in the financial year 2022–23, with only two not taking home a bonus.
The research also highlighted some “clear warning signs” for Australian boards and investors in the years ahead. Namely, reported pay levels for ASX 200 CEOs edged up in the year, which the council confirmed as a historic sign of much higher realised pay outcomes in the future.
As such, ACSI executive manager for stewardship Ed John emphasised that investors and boards must “not become complacent”.
“The numbers show that we could see a breakout in CEO pay levels in future. It will be critical that boards pay close attention and ensure performance hurdles are set at the right levels,” he said.
