Mr Clyne will be replaced by NAB-owned Bank of New Zealand managing director and chief executive Andrew Thorburn, effective 1 August 2014.
“I am leaving to spend some much-needed time with my young family. I am proud that I leave NAB as a strong, customer-focused bank,” said Mr Clyne.
“We have built a strong foundation for future growth with the revitalisation of the Personal Bank, grown our already strong position in business banking, and achieved material improvements in customer satisfaction and reputation,” he said.
“We have also worked methodically through our legacy issues while still making transformational change in our technology,” said Mr Clyne.
NAB chairman Michael Chaney paid tribute to the “exceptional leadership” of Mr Clyne.
““Cameron took over as CEO during the global financial crisis and developed an effective strategy to steer the Bank through a challenging period during which it has undergone significant cultural and structural change,” said Mr Chaney.
Mr Chaney said NAB’s new chief executive Andrew Thorburn was an “outstanding banking executive who has been part of the NAB Group Executive team that developed the Bank’s successful strategy focusing on building a stronger Australian and NZ franchise”.
““Andrew Thorburn has done a superb job leading Bank of New Zealand since 2008 where he continued to build the bank’s performance, increasing cash earnings by more than 40 per cent, improving market share on the back of strong customer satisfaction and developing a strong leadership culture,” said Mr Chaney.
A replacement for Mr Thorburn at Bank of New Zealand will be announced “in due course”, said NAB statement.
