By Rhiannon Hoyle
SYDNEY--National Australia Bank Ltd.'s (NAB.AU) chief executive,
Cameron Clyne, will step down in August and will be succeeded by
Andrew Thorburn, head of NAB's Bank of New Zealand subsidiary, the
company said Thursday.
Melbourne-based NAB said the role "had taken a personal toll" on
Mr. Clyne, aged 46, who has held the position since January
2009.
"I am leaving to spend some much-needed time with my young
family," Mr. Clyne said in a statement to the Australian Securities
Exchange.
Mr. Thorburn, who has worked for more than 27 years in the
Australian and New Zealand banking sectors, has led Bank of New
Zealand since 2008. He was previously executive general manager for
NAB's retail banking arm. His new appointment is effective Aug.
1.
The company is yet to appoint a replacement for Mr. Thorburn at
Bank of New Zealand.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
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