Commonwealth Bank Names Catherine Livingstone as Chairman

Catherine Livingstone has been appointed as chairman of Commonwealth Bank of Australia, the nation’s biggest lender, replacing David Turner who will retire in December.

Livingstone, 61, has been favorite to take the role since she joined the bank’s board in March. She will assume the position Jan. 1, after Turner steps down after six years in the job.

Livingstone, the former chairman of Telstra Corp., Australia’s biggest telecommunications company, is currently the president of the Business Council of Australia, and has served on the boards of Macquarie Group Ltd., and Goodman Fielder Ltd.

Livingstone said it was an “enormous honor” to be appointed, and paid tribute to her predecessor’s legacy of “firm and decisive leadership.”

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