NAB in turmoil as duo exit

Original article by Joyce Moullakis, Ben Butler
The Australian – Page: 1 & 4 : 8-Feb-19

Phil Chronican will become acting CEO of National Australia Bank after Andrew Thorburn advised that he will step down on 28 February. Chairman Ken Henry will also step down when a permanent CEO is appointed. Thorburn and Henry in particular had attracted criticism in the financial services royal commission’s final report over their reluctance to accept responsibility for the misconduct that was exposed by the inquiry. Some fund managers expect NAB to choose an external candidate to replace Thorburn, although Mike Baird and Anthony Healy are said to be among the internal contenders.

CORPORATES
NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, WESTPAC BANKING CORPORATION – ASX WBC, MEDIBANK PRIVATE LIMITED – ASX MPL, AMP LIMITED – ASX AMP, COMMONWEALTH AGRICULTURAL BUREAU INTERNATIONAL, AUSTRALIAN COUNCIL OF SUPERANNUATION INVESTORS INCORPORATED, THE HUMAN GROUP, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, RESERVE BANK OF AUSTRALIA

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