Barrister and businessman Allan Myers to replace Forrests as chair of Minderoo charity

Billionaires Andrew and Nicola Forrest are stepping back as co-chairs of their philanthropic entity Minderoo Foundation and handing over the reins to high-profile businessman and veteran silk Allan Myers.

The duo will remain non-executive directors of the charity they founded more than two decades ago, which they said was now well-established enough for them to step back from their shared role leading the board.

Minderoo’s philanthropic endeavours have reached far and wide, from tackling big picture inequalities to supporting local arts groups to starting programs protecting Australian ecosystems. Its headquarters are at the Old Swan Brewery in Perth, where the Forrests’ investment firm Tatarrang is also stationed.

“We couldn’t be more proud of what has been achieved over the past 23 years, and with Minderoo’s 2030 Strategy now finalised and being implemented, it is the right time for change on the board,” the Forrests said.

“Under Allan’s stewardship as the Independent Chair we know Minderoo will continue delivering on its mission to forge a fair future by challenging inequalities and campaigning for meaningful change.”

Mr Myers, a barrister and philanthropist, has been on the board for 14 years and has a longstanding relationship with the wealthy duo.

He is the founding chair of think tank the Grattan Institute and previously ran the boards of the National Gallery of Victoria and of the National Gallery of Australia Council, among a raft of other roles.

“I am honoured to serve Minderoo Foundation as Chair and to work with CEO John Hartman and the executive leadership team,” he said.

“The unprecedented generosity, vision and optimism of Andrew and Nicola Forrest is embodied in the Minderoo Foundation. I will do my best as chair to help realise their aspirations for the enduring benefit of Australia and the wider world.”

Andrew and Nicola last year donated $5 billion worth of Fortescue shares to Minderoo — and the pair are both signatories of the Bill Gates and Warren Buffett-founded giving pledge, a campaign where the world’s wealthy agree to give away as much of their fortune as they can in their lifetime to charitable causes.

Minderoo recently narrowed the focus of its $8 billion dollar endowment from more than 10 initiatives to three under a new 2030 strategy aimed at protecting oceans, helping vulnerable communities and gender and equality.

Earlier this year the charity axed about 100 jobs under a major reset by chief executive Mr Hartman, who is also CEO of Tattarang.

Staff numbers had ballooned to about 350 in 2022 amid a rapid growth period, and trimming down was hoped to boost the proportion of resources directed to beneficiaries from between 50 and 60 per cent to at least 70 and 80 per cent.

Minderoo was originally founded as The Australian Children’s Trust.

Andrew and Nicola Forrest announced their separation in July 2023 after 31 years of marriage.