Industry fund-owned bank, ME, has announced that Garry Weaven will step down as chair.
ME announced that Garry Weaven will vacate his position as chairman, and be replaced by Ken Hodgson effective 1 January 2016.
In a statement, Mr Weaven said Mr Hodgson was a “respected” business leader who developed a “passion” for ME since being appointed as a director in 2012.
“Ken brings 28 years’ experience leading banking and retail businesses including the retail and consumer banking operations at two of Australia’s largest banks, NAB and Westpac, as well as five years in retail energy at AGL,” he said.
Commenting on his appointment, Mr Hodgson said: “It is a privilege to be appointed as chairman of a genuine challenger bank built on the values of the industry super funds and which has as its core aim to help all Australians get ahead.
“I look forward to working with the board and the [chief executive], Jamie McPhee, to ensure the bank realises its full potential.
“I also acknowledge the significant contribution of our former chairman, Garry Weaven, who was re-elected to the board at the annual general meeting,” he said.