CBA Independent Director to step down

The Commonwealth Bank of Australia (CBA) has announced the retirement of independent director Launa Inman, who will step down at the conclusion of its AGM on 16 November 2017.

Inman has been a director with CBA since March 2011, and is also a member of the bank's audit committee and remuneration committee.

Previously, she was managing director and chief executive officer of Billabong International from May 2012 until August 2013. Prior to this, she was managing director of Target Australia and of Officeworks.

CBA has also announced the retirement of fellow independent board director Harrison Young, who will also leave at the conclusion of the AGM.

Commenting on their departures, CBA chair, Catherine Livingstone, said: "I would like to thank Launa and Harrison for their service, commitment and contribution to the Board."

Inman added: "It has been a privilege to be on the CBA Board and I wish the shareholders, Board, senior management and the staff the best for the future."

CBA has also announced the appointment of independent director, Robert Whitfield, effective September 2017.