New QSuper CEO selected from within

Michael Pennisi, the firm's current chief strategy officer, will replace Ms Vilgan as chief executive.

QSuper chairman Karl Morris said: "Michael brings 26 years of experience in senior executive roles with some of Australia's largest superannuation funds, investment management and financial planning firms.

"He has a wealth of experience in the financial services industry and as chief strategy officer has played a significant role in guiding the direction of the fund with the board."

Prior to joining QSuper, Mr Pennisi was the managing director of corporate strategy at QIC. He has also held positions with QInvest Limited, AMP and the Insurance and Superannuation Commission.

Commenting on his appointment, Mr Pennisi said: "I am passionate about our members, our purpose and our people. Our focus remains unchanged.

"We are very aware that our members rely on us with, in many cases, their largest financial asset.

"This is a huge responsibility and one which drives us as a fund to continue to deliver the best possible products, services and advice for our members," Mr Pennisi said.

Mr Morris also thanked Ms Vilgan, who has served as chief executive for 18 years.

"Rosemary has made an immense contribution to QSuper and the superannuation industry and we wish her all the very best for her future endeavours," Mr Morris said.