(28 September 2005 – Australia) Michael Chaney is the new chairman of National Australia Bank having officially picked up the baton from Graham Kraehe.Former Wesfarmers boss Chaney has been a non executive director since December 2004 and has been working with Kraehe to ensure a smooth transition.
Kraehe was appointed chairman in February 2004 and had been a non executive director with NAB since 1997.
Chaney said Kraehe had been a strong leader and had contributed substantially to the “transformation” of the bank.
“He led the National’s board of directors through a significant renewal program, developing a board with a strong diversity of experience across different industries and geographies,” Chaney said.
Kraehe said he had felt privileged to lead the bank’s board through a challenging time for NAB.