Carolyn Kay and Dr Jane Wilson have kept their seats on the board, after finishing their first terms.
The board of guardians for the $212 billion sovereign wealth fund is responsible for deciding how to invest its assets and it consists of a chair and six other members appointed by government ministers.
Ms Kay has been reappointed for three more years, while Dr Wilson will stay for at least another year.
Ms Kay is reported to have more than 30 years’ experience in the finance sector, having worked as a banker and as a lawyer at firms including Morgan Stanley and JPMorgan. Currently, she is a director of Scentre Group, Myer Family Investments, the Australia-China Council and the General Sir John Monash Scholarship Foundation.
Meanwhile Dr Wilson has a background as an independent director across finance, banking and medicine. She is currently a non-executive director with a number of companies, as well as being co-chair of the Australian government advisory board on technology and healthcare competitiveness.
A joint statement from Treasurer Josh Frydenberg and Minister for Finance Mathias Cormann said the reappointments will ensure the board continues to benefit from Ms Kay’s and Dr Wilson’s experience and expertise across financial markets, corporate governance and public policy.
The pair joined the board in 2015.
The Future Fund is yet to appoint a new boss, after former chief executive David Neal departed in February to front IFM Investors.
General counsel and chief risk officer Cameron Price has taken the lead in the meantime, in the role of acting CEO.
