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ANZ announces new Board appointments

The Chairman of Australia and New Zealand Banking Group Limited, Charles Goode, today announced that four new Directors will be appointed to the ANZ Board over the next 12 months to add further expertise and experience, and to facilitate a transition with the planned retirements of some Directors. 

Mr Goode said: “Two Directors are approaching retirement under the Board’s governance policy. Margaret Jackson will have served on the Board for 15 years in March 2009 and will be retiring on that date in accordance with the policy. Jerry Ellis will have reached 15 years of service in September 2010 and has foreshadowed his intention to retire at the 2009 Annual General Meeting. Both have made a very considerable contribution to the Board and we will be expressing our appreciation for their outstanding service at the time of their retirements. 


“I am delighted that Sir Rod Eddington has agreed to join the Board and succeed me as Chairman. He will join the Board early in the second half of 2009 when he has relinquished some of his current commitments and will assume the Chair after a transition period at which time I will retire from the Board. Sir Rod is one of Australia’s most respected business leaders with extensive international business experience and involvement with government.” 


Mr Goode said: “It is particularly pleasing to have someone of Sir Rod’s calibre join the Board and succeed me. His experience and success in Australia and internationally, including extensive experience in Asia, will be a significant asset for ANZ. 


“In addition, it is a pleasure to announce the appointment from today of Peter Hay and Alison Watkins to the ANZ Board. They will each stand for election at this year’s Annual General Meeting in December. Peter has a background as a leading Australian corporate lawyer and, more recently, in investment banking. Alison has experience in small business, retailing and financial services. I am confident both will make strong contributions to the Board. 


“ANZ’s aspiration is to become a super regional bank and this involves further expansion into Asia. I am very pleased that Lee Hsien Yang, one of Asia’s most respected business leaders who lives in Singapore and who has considerable knowledge of the region, has agreed to join our Board from 1 February 2009. 


“These are outstanding appointments which add to the Board’s expertise and experience. The appointment of Lee Hsien Yang adds a new and welcome dimension to the Board. The appointments also allow the Board to carefully manage a transition,” Mr Goode said. 


Further details on the two appointed Directors and the two proposed Directors are as follows: 

  • Mr Peter Hay is currently Co-Chairman of Investment Banking at Lazard Carnegie Wylie, a fulltime position that Mr Hay intends to relinquish during 2009. He is a Director of Alumina Limited, Landcare Australia Limited and the Epworth Foundation. Mr Hay is widely respected as one of Australia’s leading legal practitioners and was formerly National Chief Executive Officer of Freehills, an Australian-based law firm, having joined the partnership in 1974.


  • Ms Alison Watkins has significant experience in retailing and small business and has a strong background in finance and accounting. Ms Watkins is Chief Executive Officer of the Bennelong Group and a Director of Woolworths Limited, where she is Chair of the Audit, Risk Management and Compliance Committee. Ms Watkins’ previous roles include Chief Executive Officer of Berri Limited, Director of Just Group Limited and Partner at McKinsey & Company. She held senior executive roles with ANZ from 1999 to 2002.


  • Sir Rod Eddington is a leading company director with extensive international experience including 18 years in executive roles in Asia. Sir Rod is currently a Director of Rio Tinto plc, News Corporation, China Light & Power Holdings Limited, Allco Finance Group Limited and John Swire & Son Pty Limited. He is also non-executive Chairman of JP Morgan (Australia and New Zealand). Previously Sir Rod was Chief Executive Officer of British Airways plc, Ansett Australia and Cathay Pacific Airways.


  • Mr Lee Hsien Yang is currently the Chairman of Fraser and Neave, Limited, and a Director of Singapore Exchange Limited and The Islamic Bank of Asia Limited. He is 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 Officer of Singapore Telecommunications Limited.

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