Mr Gonski was a member of the ANZ Board between February 2002 and June 2007. He returned to the Board as Chairman in 2014 and has now served with distinction as a Non-Executive Director for more than 11 years.
Mr Gonski said: “It has been an honour to work with my fellow directors and the management team on delivering the best possible outcomes for our customers and shareholders. ANZ has a long history as one of Australia’s leading international companies and my time here will remain a key highlight of my corporate career.
“I feel it’s the right time to hand over the reins. We have in place an experienced, diverse and talented management team as well as having made significant progress on our ambitions to simplify and improve our operations. Importantly, we have also taken steps to improve the governance around matters impacting our reputation, including the now well-established EESG Board committee.
“One of the things I’m most proud of is assembling an incredibly talented leadership team, led by our Chief Executive Shayne Elliott, and supported by almost 40,000 people who are doing an outstanding job for their customers.
“I’m delighted Paul has agreed to succeed me as Chairman. Paul is an outstanding director who has already made a strong contribution to ANZ and I’m confident he will do an excellent job leading the Board as we continue to work for the benefit of our shareholders,” Mr Gonski said.