Take two for ANZ Chairman role
(24 July 2009 – Australia) After the first choice for the role of ANZ chairman, Rod Eddington, withdrew his acceptance, ANZ have selected a new chairman, in current director, John Morschel.
In November last year, ANZ elected a replacement for long time chairman, Charles Goode, going outside the bank to select Sir Rod Eddington. Eddington was due to join the bank in the second half of 2009.
The bank has now announced that John Morschel would succeed Charles Goode as Chairman, at the later date of February 2010.
In ANZ’s announcement, the bank’s board said that they had accepted the advice from Sir Rod Eddington that he decided to withdraw his offer to become Chairman, although did not give reason for decision.
Eddington, currently on multiple boards including Rio Tinto, was a director of failed Allco finance group, which reportedly ANZ investors were concerned over.
Morschel has been a director of ANZ since October 2004 and received the unanimous support of the board.
Commenting on the appointment, Morschel said that he looked forward to continuing to work with the management team led by chief executive Mike Smith in realising the ANZ’s vision to build a super regional bank.
Morschel is currently a non-executive director of Singapore Telecommunications Limited and Tenix Pty Limited. He was previously Chairman of Rinker Group Limited, Leighton Holdings
Limited, CSR Limited and Comalco Limited, and a non-executive director of Rio Tinto plc and Rio Tinto Limited.
The bank has now announced that John Morschel would succeed Charles Goode as Chairman, at the later date of February 2010.
In ANZ’s announcement, the bank’s board said that they had accepted the advice from Sir Rod Eddington that he decided to withdraw his offer to become Chairman, although did not give reason for decision.
Eddington, currently on multiple boards including Rio Tinto, was a director of failed Allco finance group, which reportedly ANZ investors were concerned over.
Morschel has been a director of ANZ since October 2004 and received the unanimous support of the board.
Commenting on the appointment, Morschel said that he looked forward to continuing to work with the management team led by chief executive Mike Smith in realising the ANZ’s vision to build a super regional bank.
Morschel is currently a non-executive director of Singapore Telecommunications Limited and Tenix Pty Limited. He was previously Chairman of Rinker Group Limited, Leighton Holdings
Limited, CSR Limited and Comalco Limited, and a non-executive director of Rio Tinto plc and Rio Tinto Limited.
Subscribe