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Clyne the new NAB CEO

Clyne the new NAB CEO

(31 July 2008 – Australia) National Australia Bank has announced that current CEO John Stewart’s replacement will be NAB New Zealand chief, Cameron Clyne. Michael Chaney, chairman of NAB, announced that Clyne would succeed John Stewart as group chief executive officer on 1 January 2009 and will join the board at that time.

Chaney said that Clyne is an outstanding executive with the strategic, cultural and leadership qualities that fit the business at this time.

The bank conducted the succession planning and interviews over the past 18 months, including an international candidate search.

Clyne has been a member of the NAB Group Executive Committee for more than four years. Chaney said that two and half years of this period were spent working with John Stewart on the bank’s strategic agenda.

In addition, Chaney also announced current Australian Retail head for NAB, Andrew Thorburn, will become CEO-BNZ commencing October 1, 2008. The appointment is subject to the regulatory approval of the Reserve Bank of New Zealand.

A replacement for Mr Thorburn will be announced by Ahmed Fahour, executive director and CEO Australia, in due course.

Prior to joining NAB Cameron Clyne was managing partner, Financial Services Industry Asia Pacific for PwC and has worked extensively in the banking and finance sectors in Asia, the United States and Europe over many years.
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