CBA finds new boss across the Tasman
(15 June 2005 – Australia) The speculation and rumour mill has finally come to an end – Air New Zealand chief executive officer Ralph Norris is the successor to long standing Commonwealth Bank boss David Murray.
Norris’ appointment took many analysts and experts by surprise, particularly in light of the almost dead set certainty that St George chief executive Gail Kelly would return to her former employer as its new boss.
Not many people looked across the Tasman for Murray’s successor despite Norris’s ten year tenure as chief executive of CBA owned ASB Bank.
CBA chairman Dr John Schubert said under Norris’ leadership, ASB grew its business year on year at double the market rate, with earnings increasing at a compound annual growth rate of 18 percent.
"ASB was consistently rated New Zealand’s best bank for customer service," Schubert said.
In light of CBA’s A$1.5 billion, customer orientated transformation program, Which new Bank, a proven track record in delivering excellence in customer service was evidently a key factor in Norris’ appointment.
Norris said he was looking forward to continuing the drive to excel at customer service.
Schubert said CBA’s cultural transformation program had made decisive progress and had significant momentum.
"Which new Bank has put the bank in a strong competitive position for the future and both [Murray] and the board felt this was the right time to appoint the next CEO," he said.
Schubert was effusive in his praise for Murray, saying he had demonstrated outstanding leadership and vision during his 13 years as CEO. Murray worked his way up from the ranks, beginning as a teller almost 40 years ago.
"The bank has transformed and improved on a continuous basis and I take tremendous satisfaction in having led and contributed to that positive change," Murray said.
Murray will hand over to Norris in six months time, at the end of the calendar year.
Not many people looked across the Tasman for Murray’s successor despite Norris’s ten year tenure as chief executive of CBA owned ASB Bank.
CBA chairman Dr John Schubert said under Norris’ leadership, ASB grew its business year on year at double the market rate, with earnings increasing at a compound annual growth rate of 18 percent.
"ASB was consistently rated New Zealand’s best bank for customer service," Schubert said.
In light of CBA’s A$1.5 billion, customer orientated transformation program, Which new Bank, a proven track record in delivering excellence in customer service was evidently a key factor in Norris’ appointment.
Norris said he was looking forward to continuing the drive to excel at customer service.
Schubert said CBA’s cultural transformation program had made decisive progress and had significant momentum.
"Which new Bank has put the bank in a strong competitive position for the future and both [Murray] and the board felt this was the right time to appoint the next CEO," he said.
Schubert was effusive in his praise for Murray, saying he had demonstrated outstanding leadership and vision during his 13 years as CEO. Murray worked his way up from the ranks, beginning as a teller almost 40 years ago.
"The bank has transformed and improved on a continuous basis and I take tremendous satisfaction in having led and contributed to that positive change," Murray said.
Murray will hand over to Norris in six months time, at the end of the calendar year.
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