CBA names new Independent Director

The Commonwealth Bank of Australia has announced the appointment of Paul O'Malley as an independent board director, effective January 2019.

O'Malley previously served as the managing director and chief executive officer of Bluescope Steel for more than a decade, and as its chief financial officer for eighteen months before that.

In welcoming him to CBA, chair Catherine Livingstone said: "Paul's broad operational and finance experience, as well as his business leadership, will bring a thoughtful and strategic perspective to the board."

CBA has also announced that Brian Long, who was due to retire in November, has agreed to stay on till the end of December to "allow for sufficient continuity in director succession."