The announcement follows the Board’s acceptance of advice from Sir Rod Eddington today that he has decided to withdraw his offer to serve as an ANZ Director and to succeed Mr Goode as Chairman, as announced in November 2008.
Mr Goode said: “I am delighted to have John Morschel succeed me as Chairman with the unanimous support of the Board. “John is one of Australia’s most respected business leaders who has extensive experience as a Chief Executive and more recently as a non-executive director and Chairman of major Australian and international companies.
“John will also bring to the role a strong background in banking and financial services. He has been a Director of ANZ since October 2004 and has made a major contribution since joining the Board,” Mr Goode said.
Mr Morschel said: “I am delighted to succeed Charles as Chairman in February 2010 and appreciate the unanimous support of my fellow Directors. I look forward to continuing to work with the excellent management team led by Mike Smith in realising our vision to build a super regional bank.”
Commenting on Sir Rod Eddington’s decision, Mr Goode said: “We respect his decision. Sir Rod is one of Australia’s best known business leaders with extensive international business experience, a strong background in Asia and significant connections with both business and government. We wish him well in the future.”
Mr Morschel is currently a non-executive director of Singapore Telecommunications Limited and Tenix Pty Limited.
He was previously Chairman of Rinker Group Limited, Leighton Holdings Limited, CSR Limited and Comalco Limited, and a non-executive director of Rio Tinto plc and Rio Tinto Limited.
From 1993 until 2001, Mr Morschel was a Director of Westpac Banking Corporation, including two years as Executive Director, where his responsibilities included retail banking and wealth management. Prior to his banking career, Mr Morschel was with Lend Lease Corporation where he was Managing Director from 1988 to 1995.