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ACSI chief executive steps down

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The Australian Council of Superannuation Investors (ACSI) has announced that its chief executive, Gordon Hagart, has decided to depart from the organisation to return to Europe.

In an announcement released yesterday, ACSI said Mr Hagart will remain in the position until April 2015 while the organisation searches for a successor.

Mr Hagart said while he was “extremely wistful” in his decision it was the “right one” for his family.

“This has been a very difficult decision to take. I've loved every minute of my time in Australia at two great organisations – ACSI and before that the Future Fund – doing work that I believe is very important for the beneficiaries of long-term institutional investors,” Mr Hagart said.

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ACSI president Gerard Noonan said Mr Hagart’s decision to step down was both “unexpected” and “regrettable”.

”Gordon has been a strong voice on ACSI's behalf during his tenure,” Mr Noonan said.

“We will miss his professionalism, his intellectual rigour, his organisational skills and his excellent public profile,” he said.