Senator the Hon Mathias Cormann

The government is pleased to announce the appointments of the Hon Peter Costello AC as Chairman and Mr John Poynton AM as a member of the Future Fund Board of Guardians.

Mr Costello and Mr Poynton have both been appointed to their respective positions for a period of five years from 4 February 2014.

Mr Costello, who has been a member of the Future Fund Board since 2009, has been the Acting Chairman since the departure of Mr David Gonski AC last month.

Prior to his appointment, Mr Costello has served Australia with distinction as the longest serving federal Treasurer from 1996 to 2007.

As Treasurer he was responsible, among many other things, for the establishment of the Future Fund in 2006.

Mr Costello’s unique experiences and background at the most senior levels in government and in business will be a great asset to the Future Fund Board.

Mr Poynton brings more than 40 years of experience in the financial services industry to the Future Fund Board.

He is currently the Chair of Azure Capital and a Director of Crown Perth. Mr Poynton also previously served as a Director of the Export Finance Insurance Corporation, a member of the Higher Education Endowment Fund and served as a member of the Payment Systems Board of the RBA.

Mr Poynton is an outstanding professional with very high standing in his field of expertise. He will make a valuable contribution to the Future Fund Board.

The Future Fund was established in 2006 as part of the Coalition government’s commitment to strengthen the financial position of the Commonwealth and to prepare for the challenges from an ageing of the population.