Nasfund appoints new board chairman

Business

CHARLES Vee, pictured, is Nasfund’s new board chairman replacing Hulala Tokome, who retired last month.
According to Nasfund, Tokome remains a director for another year and will assist Vee with the transition process including the induction of three new independent directors expected to join the board next year.
Vee thanked Nasfund’s directors for their confidence in him and he paid tribute to outgoing chairman Tokome.
“Under Tokome’s stewardship and guidance, a greater focus was placed on enhancing member services and strengthening our processes in the monitoring and evaluation of our investment portfolio,” he said.
“Nasfund today is a K5 billion fund serving over 600,000 members.
“We also changed fund administrators in 2017 and appointed a new licensed investment manager in 2018 to meet our aspirations as the first choice provider of superannuation services.
“We have also commenced our five year strategy (2019-2023) which we put in place mid last year which will enhance the value of our members’ savings.
“The board and I, supported by management and staff intend to build on the good work started under Tokome’s watch as we take the fund into the future in the best interest of our members.”
Vee joined the Nasfund board in 2016 as an independent director.
Before his appointment, he served as deputy chairman and chair of the Remuneration and Nomination Committee.
He is a registered architect by profession and holds a bachelor of architecture from Papua New Guinea University of Technology and a masters in project management majoring in property development from the Queensland University of Technology.
He is also a graduate of the Australian Institute of Company Directors and a professional member of the Papua New Guinea Institute of Directors.

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