All FNPF subsidiary boards abolished

July 08, 2009 06:08:28 PM

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All boards of the Fiji National Provident Fund’s fully-owned subsidiaries have been abolished, it has been confirmed.

A statement from the FNPF this afternoon said these subsidiaries including FNPF Investments Limited (FIL) will now report directly to the FNPF Board and its Group Chairman.

Under this new structure, the reporting line of the FNPF and its subsidiaries will be centralised to the Group Chief Executive Officer, who will be fully involved in the daily operation of the Group.

The Group CEO will be empowered with all staff related matters including employment issues, supervision and management of the affairs of the subsidiaries.