Long standing director leaves CBA board

The Commonwealth Bank of Australia (CBA) has announced that long standing board member, Sir John Anderson, has retired after nine years of service, effective 9 November 2016.

Anderson joined CBA in March 2007 and has been a member of the bank's risk committee, board performance and renewal committee, and audit committee.

He has also held senior positions in the New Zealand finance industry.

Commenting on his departure, CBA chair, David Turner, said: "Over the past nine years, John has brought a wealth of knowledge and experience in banking and business to the board and demonstrated sound and consistent judgment from which the board has greatly benefitted. We will miss him. I would like to thank Sir John very much indeed for his contribution to the bank and wish him well for the future."