The Australian Olympic Foundation was established in 1996 ahead of the Sydney 2000 Olympics, with the objective of developing and protecting the Olympic Movement in Australia by providing sufficient distributions to help fund Australian Olympic Teams, the operations of the AOC into the future and provide support for Member Sports and their athletes, thereby protecting the AOC’s financial independence. The AOC neither seeks nor receives Federal Government funding. The IAC, comprising a number of independent members, provides investment guidance and recommendations to the AOF.  

Dr Hewson was a founding member of the IAC and took on the role of Chair in 2001, overseeing considerable growth of the AOF through to the end of the Paris 2024 quadrennial.  

Not only has the Foundation’s base continued to grow, it has distributed more than $160 million to the AOC across that period to support Australian Olympic Teams. 

AOC President and AOF Chair, Ian Chesterman, said the Olympic Movement was indebted to Dr Hewson for his exceptional service. 

"Since before the Sydney Games John has made an extraordinary contribution to our Australian Olympic Foundation and we thank him,” Mr Chesterman said. 

“John has served the Olympic Movement superbly and the Executive is delighted that he will remain on the Investment Advisory Committee, allowing us to have ongoing access to his expertise.

“In stepping aside, John recognised the importance of the Investment Advisory Committee to evolve as we set ourselves up for Brisbane 2032 and beyond,” he said. 

Dr Hewson said: “My time with the IAC has been one of the most enjoyable and rewarding aspects of my career.” 

“I am very proud of the contribution that we have made to the Australian Olympic Movement and I look forward to being able to continue to contribute as a member into the future,” Dr Hewson said. 

Another stalwart of the IAC, Angus Douglas, has also stepped down after serving on the IAC since 1997.

“Angus has made a wonderful contribution to the success of the Foundation,” Mr Chesterman said. 

“We have been very fortunate that he has given so much of his time and expertise for such a lengthy period of time and we thank him for all that he has done. 

“I also thank Paul Batchelor for taking on the role of Chair. Paul has served on the Committee since 2001 and we have great confidence that he is leading an exceptional team,” he said. 

About the Australian Olympic Foundation and the Investment Advisory Committee 
After the 2000 Sydney Olympic Games a legacy fund of $88.5m was established as the capital base of the Australian Olympic Foundation (AOF), which has proven key to the AOC’s financial independence. 

The Foundation is a company limited by guarantee and was established to develop and protect the Olympic Movement in Australia in accordance with the Olympic Charter. 

Since inception the investment objectives of the Foundation have been, and remain, to protect and grow the capital base, while providing sufficient income and liquidity to provide a distribution to the AOC to support and fund Australian Olympic Teams, its programmes and expenses. 

Since its founding, and with the guidance of the Investment Advisory Committee (IAC, the Foundation has grown its net assets to $190m. 

During that same period the AOF has provided $160m in distributions to the AOC, to fund and support Australian Olympic Teams. 

The Foundation remains a very long-term investor – intended to assist in financing the AOC’s activities over the indefinite future. 

The Directors of the AOF receive advice from the Investment Advisory Committee (IAC), and the Foundation’s funds have continued to be invested in accordance with those recommendations.

The IAC consists of:
Paul Batchelor (Chair) 
Dr John Hewson AM 
Dr Helen Nugent AC 
Liz Lewin 
Jo Townsend 
Ian Chesterman AM
Matt Allen AM 
Craig Carracher AM