Chair of the Commonwealth Bank of Australia (CBA), Mr Paul O’Malley, today announced the appointment of Ms Lyn Cobley to CBA’s Board of Directors as an Independent Non-Executive Director with effect from 1 October 2022.
Ms Cobley brings to the Board over 30 years’ experience in financial services. Ms Cobley is also the former Chief Executive Officer of Westpac Banking Corporation’s (Westpac) Institutional business, Chair of Westpac’s Asia Advisory Board, as well as Group Treasurer of CBA.
Mr Paul O’Malley said: “On behalf of the Board, I am delighted to announce Lyn’s appointment, and to welcome her breadth of financial services experience in her role as a Non-Executive Director of CBA.”
CBA also wishes to advise that Mr Shirish Apte, Independent Non-Executive Director of the CBA Board, has decided not to offer himself for re-election at the 2022 Annual General Meeting (AGM). Mr Apte joined the Board in June 2014 and has been a member of the Board Audit Committee and Board Risk & Compliance Committee, and is a former Chair of the Board Risk & Compliance Committee.
Mr Paul O’Malley: “On behalf of the Board, I would like to thank Shirish for his considerable contribution to CBA during his more than 8 years as a Director. Shirish’s financial services experience has been invaluable to CBA, particularly in relation to the Board’s decision making on strategy and operational risk.”
“Throughout his tenure, Shirish has displayed a strong interest in customer and strategic outcomes. Shirish also played a key role in the completion of the Remedial Action Plan and oversight of CBA’s stronger culture of accountability. On behalf of CBA, I thank him for his contribution to CBA.”
Mr Apte will retire from the Board at the conclusion of the 2022 AGM.