NAB announces new chairman
(6 March 2019 – Australia) Following the resignations of chief executive Andrew Thorburn and chairman Ken Henry in the wake of the banking royal commission, NAB has announced Philip Chronican as the new chairman.
Mr Chronican, who is also acting chief executive, is a veteran of the Australian banking market having previously held senior roles at both Westpac and ANZ.
"Much needs to change in a meaningful way at our bank. We have unfortunately been found wanting in too many areas when it comes to our customers, and I am determined to ensure that change happens to ensure we meet and exceed their expectations," Mr Chronican said.
"There is very little about the strategy I want to refine but there's a lot about the execution and the way it operates that could do with a lot of sharpening up."
Mr Chronican will now oversee the board’s selection of the new CEO.
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