ANZ confirmed yesterday that David Gonski will succeed John Morschel as the group’s chairman from today following Morschel’s retirement from the ANZ board.
Gonski stepped down from his role as chair of the Future Fund to take on the new position.
He has previously served as ANZ director from 2002-2007, and it is understood he will stand for election as director again at the ANZ AGM in December.
Morschel said he’s happy to hand the reins over to Gonski.
“It is very pleasing to have someone of David’s calibre succeed me as Chairman. He knows ANZ well having previously served as a director…and we have been working closely since February to ensure a smooth transition,” he said.
Gonski’s impressive portfolio includes being chairman of Coca-Cola Amatil, the Guardians of the Future Fund, the Sydney Theatre Company and Investec Bank.
He is also a director of Singapore Telecommunications, Infrastructure NSW and the Lowy Institute for International Policy and is chancellor of the University of NSW.
Gonski said he’s pleased to have the opportunity to re-join the board and continue building a super regional bank.
Morschel has made an outstanding contribution to ANZ and has the rare ability to focus on strategy as well as drill down into detail, he said.
“It has been an honour to have served as an ANZ director since 2004 and to have been chairman of ANZ over the past four years. The opportunity to work with [CEO] Mike Smith and his very professional management team has been particularly rewarding for me,” Morschel said. “It is very pleasing to see the success of the super regional strategy which has positioned ANZ strongly for the future.”
In other changes at the ANZ board, it was announced that John (JT) Macfarlane will join the board from 22 May following a decision by board member Peter Hay to retire.
Macfarlane, who will also stand for election as a board director in December, is one of Australia’s most experienced international bankers, and was most recently the chairman and CEO of Deutsche Bank Australia and New Zealand.