Sunsuper appoints new Chair

Sunsuper has announced the appointment of Andrew Fraser as the $50 billion fund's new chair, effective 1 February 2018.

He succeeds Ben Swan, who has stepped down from the role at the completion of his term but will remain as a director on the board.

Fraser, a former Queensland politician, first joined Sunsuper as an independent director in September 2015. Previously, his roles include being appointed as the head of strategy & investment at the National Rugby League (NRL).

His appointment at Sunsuper comes as a result of the board's decision to adopt a 'best person for the role' approach to chair selection and move away from rotational terms. Historically, the role of chair had been rotated every three years between member and employer directors.

Commenting on Fraser's appointment, Swan said: "The board is acutely aware of the importance of strong governance particularly given the scope, scale and strategy of the Fund and, as such, has made a decision to adopt a 'best person' approach to the role of chair. This approach, which has resulted in the appointment of an independent director to the position for the first time, is a further extension of the strength of the Fund's governance model."

Fraser added: "I'm honoured by the support of my colleagues and on their behalf I would like to thank Ben for his leadership and contribution to the organisation during his time as chair."

As well as sitting on the board as an independent director, Fraser has also chaired Sunsuper's investment committee since 2016. He will step down from this role as he moves into the role of chair.