Commonwealth Bank chairman Catherine Livingstone, who has led CBA’s board during a period of major change including a run of damaging scandals, said it was the right time for a new chair and the bank had made significant progress on its strategy.
Commonwealth Bank chairman Catherine Livingstone will retire from the banking giant’s board in August after more than five years in the job, to be replaced by former Bluescope chief executive Paul O’Malley.
“I have been honoured to serve as CBA’s chair through a time when the bank has addressed a number of complex challenges and in doing so, rebuilt its reputation as an organisation that seeks to deliver positive outcomes for its customers, people and shareholders,” Livingstone said on Wednesday. O’Malley said: “It is a privilege to be appointed Chair of the Commonwealth Bank. With the support of the Board, CEO and management team I am absolutely committed to helping CBA build on the strong progress achieved over recent years under Catherine’s leadership and continuing to deliver rewarding outcomes for all our stakeholders.”
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