Future Fund boss David Murray criticises selection process of successor

The retiring chairman of the Future Fund David Murray has described his successor David Gonski as "a good appointment" and "a person of stature".

Mr Gonski has become embroiled in a political row over his appointment as Future Fund chair after Cabinet rejected the candicacy of the former Treasurer Peter Costello.


Mr Gonski had relayed the view of Future Fund guardians that Mr Costello was the preferred internal candidate.


While welcoming Mr Gonski as "good appointment", Mr Murray stopped short of a full endorsement.


Asked if he agreed that Mr Gonski was the best person for the Fund's top job, Mr Murray said: "I didn't say that. I said he was a good appointment."


Listen to my analysis of the Future Fund row broadcast this morning on AM.


The founding chairman of the Future Fund is known to be frustrated over the appointment of his successor, having agreed to a fixed twelve month appointment a year ago days before his term expired.


"The appointment process could have been handled in a more timely manner to prevent speculation," Mr Murray told me.


Mr Murray was not critical of Mr Gonski and stressed he was highly regarded in the business community.


However, Mr Murray's comments add to criticism about the process of the appointment, poor succession planning and perceptions that Cabinet's rejection of Peter Costello as the Fund's next chairman smacks of poltiical payback.