The chairman will retire after six years of service on the board, saying “it’s the right time to hand over the reins”.
David Gonski will step down as ANZ chairman after the finalisation of the bank’s full-year results in October. He will be succeeded by Paul O'Sullivan.
“It has been an honour to work with my fellow directors and the management team on delivering the best possible outcomes for our customers and shareholders,” Mr Gonski said. “ANZ has a long history as one of Australia’s leading international companies and my time here will remain a key highlight of my corporate career.”
Mr Gonski was a member of the ANZ board between February 2002 and June 2007. He returned to the board as chairman in 2014, and has now served as a non-executive director for more than 11 years.
“I feel it’s the right time to hand over the reins,” Mr Gonski said.
“We have in place an experienced, diverse and talented management team as well as having made significant progress on our ambitions to simplify and improve our operations.”
Mr O'Sullivan is currently chairman of Optus and a director of Coca-Cola Amatil. He has previously held senior executive roles with Singtel and was CEO of Optus between 2004 and 2012.
“My focus as chairman will be to continue the work we have been doing over many years to improve our operations and simplify the bank to benefit not only the owners of our company but also our customers and our staff,” Mr O'Sullivan said.
“The banking industry is at an important inflection point as we do all we can to help the economy recover from the impacts of COVID-19 and ANZ will remain committed to that cause.”
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