ANZ chair to retire

ANZ chair David Gonski will retire at the end of October.

"It has been an honour to work with my fellow directors and the management team on delivering the best possible outcomes for our customers and shareholders," said Gonski. "ANZ has a long history as one of Austrlaia's leading international companies and my time here will remain a key highlight of my corporate career."

Gonski joined the ANZ board in 2002 and served until 2007. He rejoined as chair in 2014.

Gonski also holds board positions with Swiss Re Life, Igneus Limited, the AX, and Investec Bank. He's previously held positions with John Fairfax Holdings, Westfield Group, Consolidated Press, and ING Australia.

"I feel it's the right time to hand over the reins," said Gonski. "We have in place an experienced, divers and talented management team as well as having made significant progress on our ambitions to simplify and improve our operations.

"Importantly, we have also taken steps to improve the governance around matters impacting our reputation, including the now well-established EESG Board committee."

As an executive, Gonski founded Wentworth Associates Pty Ltd, which was acquired by Investec.

ANZ has announced that Paul O'Sullivan will succeed Gonski.

""David has made a significant contribution to ANSZ over more than a decade of committed service," said O'Sullivan. "It has been a privilege to serve with him on the ANZ Board and I look forward to succeeding him as Chairman. While I know he will not be lost to public life and will continue to serve business and the community, David can be extremely proud of the contribution he has made to ANZ."