Michael Chaney plans to stand down from the board of National Australia Bank in 2015. Another director, John Thorn, foreshadowed the prospect at the bank's annual meeting in Perth yesterday and Chaney confirmed it to the Australian Financial Review. Thorn said it was expected that no director would serve more than 10 years on the board, a view Chaney endorsed. "I expect it would be my last term," he told the newspaper. Chaney, the former managing director of Wesfarmers, joined the NAB board in December 2004 and became chair less than a year later. He is reportedly facing complaints from major shareholders over NAB's recent share price and 28 per cent 2012 profit fall, largely a result of bad debts at the bank's UK banking arm. Chaney told the meeting that NAB's UK operations will be "largely self-funded and profitable" following the restructure and write-offs announced in April. He also reiterated long-standing NAB worries over access to funding, warning that "in hard times [wholesale] funding can be under threat." Among antidotes to this problem Chaney called for "a more rational and neutral tax treatment of savings" and more willingness by superannuation funds to invest in term debt of banks. Cameron Clyne, NAB's CEO, offered only a generic comment on the outlook. "We recognise that 2013 will be a challenge, and, as the world changes, we must change with it," he said. Around 16 per cent of shareholders voted against the bank's remuneration report. Some 17 per cent voted against the re-election to the board of Mark Joiner, the finance director. Joiner has been the target of criticism as the only bank chief financial officer to also be a director.