Venkat Raman –
Bank of New Zealand (BNZ) has announced the appointment of Dough McKay as the new Chairman of its Board of Directors.
The appointment will become effective from August 1, 2015.
He succeeds John Waller, who retires from this position (and as a Member of the Board of National Australia Bank) on the same day.
Mr McKay has been a Member of the Board since March 5, 2013.
BNZ Managing Director & Chief Executive Anthony Healy said that he was looking forward to working with Mr McKay.
“He has already made a significant contribution as a Director of the Board, as the current Chair of the Audit Committee and Member of the Risk Committee. His wide-ranging commercial and governance experience, including his role as founding Chief Executive Officer of the newly formed Auckland Super City and his experience in global markets will continue the tradition of strong and effective board leadership associated with John Waller’s time chairing the BNZ Board,” he said.
Mr Waller has been a member of the BNZ board since early 2008, and became its Chairman later that year.
“This move to retire from the BNZ and NAB boards, after serving on them for almost eight years, is the right choice for John,” Mr Healy said.
“The workload of sitting on the boards of two major banks is significant and John has decided it’s time to re-balance his commitments with spending more time with his family and pursuing other interests. NAB Group Chief Executive Andrew Thorburn and I have enjoyed the privilege of working with John at BNZ, and we wish him all the best for the future,” he added.
Mr Anthony said that Mr Waller’s legacy at BNZ will be a well governed, high-performing bank, recognised for its innovation, culture, and customer focus.
“John has been a friend, confidant and mentor to me, as well as an extraordinarily able Chair of BNZ throughout a period of far-reaching change. In his role as Board Chair, John’s counsel and judgement helped to transition BNZ through a period marked by the GFC and its aftermath, and ensured we always stayed focused on the needs of our customers,” Mr Healy said.
BNZ is the Title Sponsor of the Indian Newslink Indian Business Awards 2015
- John Waller
- Dough McKay