The lawbreaking construction union’s three directors have left the board of Cbus, but it is unclear who the CFMEU administrator will replace them with.
CFMEU administrator Mark Irving KC has forced veteran Dave Noonan off the board of $92 billion superannuation fund Cbus and the two other union directors have jumped ship, as fallout from the CFMEU scandal spreads beyond the construction industry.
All three departures were effective immediately, and the profiles of all three had by Thursday morning been removed from the Cbus website.It is unclear who will replace the trio, whose director spots are chosen by the union’s national executive, which is currently under Mr Irving’s control. He said it reinforced the need for more scrutiny of the CFMEU’s influence over Cbus’ plans to invest in the government’s affordable housing fund. The opposition has introduced a bill it hopes will do this, but Labor has blocked the first attempt to hear it.
But he said those decisions “do not impact the daily operation of Cbus” and that its board was “committed to providing strong governance and services”.
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