Buskens leaves Nambawan Super after 24 years

Business, Normal

The National, Friday, May 13, 2011

LEON Buskens has left Nambawan Super Ltd (NSL) after 24 years.
NSL chairman Sir Nagora Bogan yesterday announced that the managing director, would be leaving the company effective as of today to pursue personal business interests.
Concurrently, Sir Nagora also announced that the board had appointed Paul Yangen, presently general manager for finance and administration as acting MD, pending recruitment and appointment of a permanent person.
Yangen has extensive accounting and industry experience including being a financial controller with Westpac Bank for seven years before joining NSL.
He assured members of the fund, all service suppliers, staff and other important stakeholders that the transition would be closely monitored by the board and there were systems in place for such a situation.
“On behalf of the board of directors, I take the opportunity, to thank Buskens for his outstanding years of dedicated service to fund members, during which he led the organisation successfully through the major superannuation reforms,” Sir Nagora said.
He also successfully worked with close direction of the board to stage-manage the transformation in strategic positioning and brand image from POSF to NSL’s current position as PNG’s leading superannuation fund for private as well as public sector employees.
“Leon’s tenure as MD had seen the assets of NSL grow from K600 million to K3.1 billion and the fund returned double-digit interest and positive real returns for 12 consecutive years.
NSL fund members now have the highest average super account balances in PNG,” Sir Nagora added.
“His 24-year career with NSL commenced on his graduation from Unitech with his appointment in 1991 as an accounts clerk, from where his aptitude and talents soon had him moving upwards through the organisation,” Sir Nagora said.
Buskens was the first managing director to be appointed under the merit-based process arising from the superannuation reforms in 2002.