Mr David Turner, Chairman of the Commonwealth Bank of Australia, today announced that Sir John Anderson, KBE would retire as a Director of the Bank after serving over nine years on the Board. His retirement will take effect at the conclusion of today’s Annual General Meeting.

Sir John has been a Director of the Bank since March 2007 and has been a member of the Risk Committee, the Board Performance and Renewal Committee and the Audit Committee. He is a highly respected business and community leader, having held many senior positions in the New Zealand finance industry. 

Mr David Turner said: “Over the past nine years, Sir John has brought a wealth of knowledge and experience in banking and business to the Board and demonstrated sound and consistent judgment from which the Board has greatly benefitted. We will miss him. On behalf of my fellow Directors, the Group’s Executives and our Shareholders, I would like to thank Sir John very much indeed for his contribution to the Bank and wish him well for the future.”