Former Wallaby David Codey has been elected new president of the QRU, replacing Jeff Miller.
Miller was elected to the board at the QRU's Annual General Meeting, with chairman Damian Frawley also announced his intention to step down from the role, citing work commitments.
Frawley is the CEO of Queensland Investment Corporation (QIC) and said work now had to come first, having served for two years as chairman.
"In 2016 we made a number of decisions to restore the financial integrity of the Union, and our annual result in 2017 is a positive step in the right direction and something we can build upon," Frawley said.
"The QRU's executive is implementing a fresh strategy with renewed support from our financiers and commercial partners.
"The organisation is well placed for me to pass the baton on to a new Chairman."
That new chairman is expected to be announced later this month.
Boyd Curran has also been elected to the board in place of Ross Thompson.