Photo credit: Nasfund - Ian Tarutia
As the long-serving CEO of the fund, Ian Tarutia, CEO of Nasfund, will step down on March 31, 2023.
Mr Tarutia has informed the board of his desire to retire at the end of March 2023, according to chairman Charles Vee's announcement.
He said that the board appreciates his choice and has begun the search for a suitable replacement.
“Ian has served the fund, Nasfund its predecessor NPF and the fund members over the last 35 years with distinction and his departure will be a big loss for the organisation.
“He has led the fund as CEO since November 2011 and presided over a period of sustained profitability, membership growth, balance sheet growth and improved member servicing over his watch.
He has built a strong leadership team and pleasingly most are all competent Papua New Guineans.
The board is comforted that the business of the fund and service to members will continue while a new CEO is recruited and appointed,” Mr Vee said.
In the first quarter of 2023, he will say his final goodbyes formally.
Mr Tarutia declared that he is confident in his choice to leave the fund at the beginning of 2023.
“I have served Nasfund and its predecessor National Provident Fund (NPF) for almost 35 years. Out of this, I have served 15 years at the CEO level.
“As my first employer straight from university, the fund has been a significant part of my adult and professional life.
“I have seen the fund from its lowest time as an organisation on the brink of extinction to its peak of distinction as a leading superannuation and financial institution in Papua New Guinea and the Pacific today,” Mr Tarutia said.
He said that via better governance, an emphasis on customer service, innovative products, higher retirement savings, and return on investments, members had greatly benefited from the fund's revival.
“More importantly, the fund today is staffed by well-qualified, competent and dedicated Papua New Guineans who are as passionate as I am in serving members to the best of our ability. I am privileged and honoured to have played a role in the consolidation, rebuild and transformation phase of the fund to where it is today.
“But the time has come to pass the baton to someone else to take the reins,” he said.
“I am keen to pursue other personal interests and endeavours and look forward to the next phase of life.
“The board has commenced a recruitment process to find my replacement, I will assist with the transition to ensure stability and continuity.”
Mr. Tarutia stated that in the interim, he is still committed to seeing that the fund achieves its goals for the year and continues to produce gains for its members.
Reference: Post-Courier (2 August 2022). “Tarutia To Retre In 2023”.
