David Gonski retires from ANZ chairmanship

ANZ has announced the retirement of David Gonski as chair of the group’s board, effective following the release of the banks full-year results on 28 October.

The outgoing chairman will be replaced by Paul O’Sullivan, who joined the board in November 2019.

Mr Gonski has served as chair since 2014 and as a non-executive director for 11 years.

“I feel it’s the right time to hand over the reins,” he said.

"I am delighted Paul O’Sullivan will succeed me as Chairman and he has my absolute confidence. Paul is an outstanding director who has already made a strong contribution to the Board and I look forward to working closely with him on a smooth transition.

I feel it’s the right time to hand over the reins to Paul. We have in place an experienced, diverse and talented management team as well as having made significant progress on our ambitions to simplify and improve our operations. Importantly, we have also taken steps to improve the governance around matters impacting our reputation, including the now well-established Ethics, Environment, Social & Governance Board committee.

Serving as ANZ’s Chairman will always remain a key highlight of my corporate career.

"This is not because of any false sense of prestige, rather the honour that comes with working with so many wonderful people who are doing all they can for our customers, our shareholders and their fellow staff members."