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CBA boss to step down

The chairman of the Commonwealth Bank of Australia, Catherin Livingstone AO, said today that the board had decided to provide details of its planned CEO succession process to ensure the market is fully informed and to provide certainty for the business.

Managing Director and Chief Executive Officer, Ian Narev, will retire by the end of the 2018 financial year, with the exact timing dependent on the outcome of an ongoing comprehensive internal and external search process.

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More to come.

CBA boss to step down
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