Published by Money Management – 7th Mar 2019
Former Westpac executive and the current, interim chief executive of National Australia Bank, Phil Chronican has been formally named to succeed Ken Henry as chairman of the big banking group.
NAB formally announced late on Wednesday that Chronican’s elevation to the chairmanship had been unanimously supported by directors at their most recent board meeting.
In doing so, the bank also confirmed that Chronican had not sought be considered for permanent appointment to the chief executive role, something which opened the way for his appointment as chairman.
Commenting after confirmation of his appointment, Chronican said much needed to change in a meaningful way at NAB.
“We have unfortunately been found wanting in too many areas when it comes to our customers, and I am determined to ensure that change happens to ensure we meet or exceed their expectations,” he said.
