Electricity Industry Superannuation Scheme (EISS) board has appointed Peter Siebels as its new independent chairman, ending an extensive recruitment campaign.
Siebels will serve as chairman for three terms from March 2015, taking over from Mark Day who has been in the role the last 13 years.
Prior to this, Siebels was the Chairman of Partners of KPMG's Adelaide office and the KPMG National Managing Partner — Private Enterprise, and held directorships with Business SA and the State Theatre Company.
In a statement the Board said they were pleased with the appointment.
"The Board is confident that Peter has the experience and enthusiasm to lead the Scheme through any challenges and opportunities that it may face in the next few years."
Vanguard Super has reported strong returns across most of its investment options, attributed to a “low-cost, index-based approach”.
The fund has achieved double-digit returns amid market volatility, reinforcing the value of long-term investment strategies for its members.
Australian super funds notched a third consecutive year of strong returns, with the median balanced option delivering an estimated 10.1 per cent over the 2024-25 financial year, but an economist has warned that the rally may be harder to sustain as key risks gather pace.
AustralianSuper has reported a 9.52 per cent return for its Balanced super option for the 2024–25 financial year, as markets delivered another year of strong performance despite the complex investing environment.