12/11/2008 - 11:02

Eddington named as ANZ's new chairman

12/11/2008 - 11:02

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Perth-born business executive Sir Rod Eddington has been named as the new chairman for ANZ Bank.

Perth-born business executive Sir Rod Eddington has been named as the new chairman for ANZ Bank.

Sir Eddington will succeed outgoing chairman Charles Goode next year.

Mr Goode said he was delighted to have Sir Rod Eddington, a UWA graduate and former chief executive of British Airways, join the board and take over as chairman.

"His experience and success in Australia and inetrnationally, including extensive experinece in Asia, will be a significant asset for ANZ," Mr Goode said in a statement.

Mr Goode also announced the appointment of four new directors to the board over the next 12 months in preparation for the retirement of Margaret Jackson and Jerry Ellis.

Ms Jackson will retire in March 2009 after serving 15 years on ANZ's board, while Mr Ellis will retire at ANZ's 2009 annual meeting after 14 years of service.

They will be replaced by Peter Hay and Alison Watkins who will stand for election at the bank's annual meeting on December 18 in Brisbane.

Ms Watkins joined Bennelong Group as chief executive in January 2008 and was previously chief executive of Berri Ltd, as well as managing director of regional banking at ANZ and a partner at McKinsey Consulting Group.

Mr Hay has a background as a corporate lawyer.

As well, Singapore-based Lee Hsien Yang will join the board from February 1, 2009, Mr Goode said.

Mr Lee is currently chairman of Fraser and Neave Ltd, and a director of Singapore Exchange Ltd and the Islamic Bank of Asia Ltd.

He is also chairman of Republic Polytechnic and sits on the Governing Board of the Lee Kuan Yew School of Public Policy.

Mr Lee was formerly chief executive of Singapore Telecommunications Ltd.

His appointment will support ANZ's expansion into Asia, Mr Goode said.

 

 

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