The CFMEU said there had been an extensive consultation process following a dispute which saw three of the Master Builders delegates to the board of the BUSSQ fund walk off several weeks ago.

The dispute was reportedly over a proposed merger with CBUS, a fund now chaired by former Treasurer Wayne Swan.

The Master Builders’ nominated directors Paul Bidwell, Sonya Beyers and Madeline Dermatossian resigned last month.

But the CFMEU said three new Master Builder directors have now been appointed, Paul Hick, Christopher Taylor and Geoff Baguley.

The resolution was not an easy one. The CFMEU picketed the offices of the Master Builders in what it described as a power play by the union.

The union said there had been a series of productive and co-operative meetings before the Master Builders decided to reconstitute the board.

Assistant secretary Jade Ingham welcomed the resolution.

“We agreed that in the interests of BUSSQ _ which is consistently among the top performing super funds in Australia _ are best served by maintaining the existing management and board structure,” Ingham said.

“We can assure members that the fund remains in good hands and will continue to provide the long term returns that members have come to expect.