ANZ boss stepping down after eight years
ANZ chief executive Mike Smith is stepping down after eight years in the role and will be replaced by Shayne Elliott.
Elliott, the bank’s current chief financial officer, will take over on January 1.
ANZ chairman David Gonski said Smith had left ANZ in a strong position.
“Mike was appointed chief executive as the world was entering the global financial crisis. Despite those headwinds and a volatile environment for banks around the world, his leadership has seen ANZ continue to grow market share in Australia and establish a strong, growing New Zealand business under one brand,” Gonski said on Thursday.
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“He has transformed ANZ into one of Asia Pacific’s leading banks.”
Elliott, a former investment banker, has more than 30 years experience in Australia, New Zealand, Asia Pacific and the Middle East.
Gonski described the New Zealander as the outstanding candidate among both internal and external candidates.
Smith, who last year expressed a desire to stay on for another two or three years, will become a non-executive adviser to the board for an initial period of one year.
– AAP
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