Thorburn Quits as National Australia Bank CEO After Inquiry Lashing

Thorburn, Chairman Ken Henry resign after withering criticism
Planned IPO of wealth unit MLC delayed amid inquiry fallout

Bloomberg’s Jackie Edwards reports on the resignations of National Australia Bank’s CEO and chairman.(Source: Bloomberg)

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By Jackie Edwards

February 7, 2019 at 6:19 AM UTC

Updated on

February 7, 2019 at 8:36 AM UTC

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National Australia Bank Ltd.’s chief executive officer and chairman both resigned Thursday, becoming the highest-profile casualties of a sweeping inquiry into misconduct in the country’s financial industry.

Andrew Thorburn, 53, and Chairman Ken Henry, 61, announced their departures just days after being the target of withering criticism in the Royal Commission’s final report, which questioned whether they were capable of leading the lender’s response to a string of scandals.