CBA Independent Director to depart board

The Commonwealth Bank of Australia (CBA) has announced that Sir David Higgins will retire as an independent board director, effective 31 December 2019.

Higgins joined the CBA board in September 2014 and has served as chair of the remuneration committee and as a member of the risk committee.

Commenting on his departure, CBA chair Catherine Livingstone said: "I would like to thank Sir David for his service, commitment and contribution to the Board."

She added that his "decision to retire was reflective of the time commitment required for the Board and travelling to Australia when considered with his portfolio of directorships from 1 January 2020."

Higgins is currently chair of Gatwick Airport Ltd and is a senior adviser to Global Infrastructure Partners in the US and to Lone Star Funds. Previously, he served as chair of High Speed Two (HS2) Ltd, and as CEO of Network Rail Infrastructure Ltd, the Olympic Delivery Authority for the London 2012 Olympic Games, and Lend Lease.