CBA aims for a board refresh
A commitment to the Commonwealth Bank's "ongoing board renewal process", as outlined at last year's Annual General Meeting, is behind several changes to the bank's board announced yesterday by chair Catherine Livingstone.In what is a promotion from within (of sorts), the CBA board has appointed Anne Templeman-Jones as an independent non-executive director, effective immediately. She will be moving from her role as chair of CBA's subsidiary Financial Advice and Wealth business (comprising Commonwealth Financial Planning Ltd, BW Financial Advice Ltd, Count Financial Ltd and Financial Wisdom Ltd) where she has been since 2015.To make way for her at the top table, two current directors, who had already flagged their plans to retire from the CBA board this year, will exit at the conclusion of the 2018 annual general meeting: Andrew Mohl leaves after ten years; and Brian Long leaves after over eight years as a director, including seven years as chair of the audit committee.Templeman-Jones is an experienced listed company non-executive director, currently serving on the boards of HT&E Limited (formerly APN News & Media Limited), GUD Holdings Limited, Citadel Group Limited and WorleyParsons Limited. A review of her career on those boards, and others, shows she has generally chaired the audit committee and been on the remuneration committee. In a career spanning over 30 years, she has worked for a number of leading organisations including Bank of Singapore, PwC and ANZ. Her final executive roles were with Westpac, where over the seven-year period until 2013 she held the positions of head of private bank in NSW, ACT and WA, head of strategy and risk for the Pacific Bank operations, director group risk reward and director strategy in Westpac's Institutional Bank.