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The major bank has announced that one of its board members will be stepping down from the role.
The Commonwealth Bank of Australia’s (CBA) chair Paul O’Malley announced that Genevieve Bell AO has made the decision to resign from the major bank’s board effective 31 October 2023.
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Ms Bell was first appointed to the CBA board on 1 January 2019 and has been a member of the people & remuneration committee and nominations committee
Her retirement followed the announcement of her appointment as the vice-chancellor and president of the Australian National University, where she will assume that role as of 1 January 2024.
Mr O’Malley commented on Ms Bell’s resignation: “On behalf of the Board, I would like to thank Genevieve for her significant contribution to CBA during her tenure.
“Genevieve’s skills and experience were extremely valuable to the Board.
“On behalf of the Board, I would also like to congratulate Genevieve and wish her well in her new role as Vice-Chancellor and President of The Australian National University.
“We will continue to work on CBA Board Renewal to ensure succession arrangements are in place.”
Non-major bank announces CEO’s departure
Meanwhile, in another resignation announced the week ended 29 September 2023, Suncorp Group CEO Steve Johnston announced the departure of Suncorp Bank’s chief executive Clive van Horen after a three-year tenure with the non-major bank.
Mr van Horen will step down from the role on 24 December 2023 after leading the bank since August 2020 to pursue an opportunity in the financial services sector.
According to Mr Johnston, Mr van Horen played a pivotal role in executing the bank’s strategic plan to improve performance during his tenure.
“Clive and his team have done an exceptional job in simplifying the bank and growing our home and business lending portfolios, particularly in what has been a complex and highly competitive market,” Mr Johnston said.
“They have also made great strides in delivering improved experiences for our customers as well as brokers.”
Mr Johnston further attributed Suncorp’s respected reputation to the efforts of Mr van Horen in transforming the business, leaving it well-positioned to maintain positive growth.
“We’re disappointed to see him go but wish him all the very best for the future,” Mr Johnston said.
Mr van Horen expressed his satisfaction with the bank’s progress and said he was honoured to lead the bank through a transformative period.
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