(26 April 2005 – Australia) Dr Brian Scott has retired from the ANZ board after 20 years as a director.Scott is obliged to retire from the board in accordance with the ANZ’s Constitution having reached 70 years of age. He was also chairman of the board’s Nominations and Corporate Governance Committee and a member of the bank’s Compensation and Human Resources Committee.
ANZ chairman Charles Goode said Scott had made an enormous contribution to the bank over the past 20 years and was a leader in board deliberations on human resource and governance issues.
“This includes his contribution in more recent times where ANZ has had a major focus on cultural change and there has been increased regulatory and shareholder interest in corporate governance,” Goode said.
“We have also benefited from his keen interest and knowledge of East Asian countries.”
Goode said Scott’s contribution to the ANZ board showed the benefit of having directors with long standing institutional knowledge of the company and who had experienced all phases of the economic cycle.