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CBA announces new board appointment

The major bank has appointed the former managing director and CEO of BlueScope Steel to its board of directors.

Commonwealth Bank (CBA) has announced the appointment of Paul O’Malley as a non-executive director to its board, effective 1 January 2019.

Mr O’Malley most recently served as managing director and CEO of BlueScope Steel for over 10 years, and as its CFO for 18 months prior to his appointment as CEO.

The new appointee has also served as chairman and CEO of TXU Energy, a subsidiary of TXU Corp based in Dallas, and has held various other senior financial management roles within the TXU Group. 

Mr O’Malley previously worked in investment banking and consulting.

Commenting on his appointment, CBA chairman Catherine Livingstone said: “I am delighted to welcome Paul as a director of the bank.

“Paul’s broad operational and finance experience, as well as his business leadership, will bring a thoughtful and strategic perspective to the board.”

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CBA has also announced that independent non-executive director Brian Long will retire from the board as of 31 December, and reiterated that Andrew Mohl will also retire from the board at the conclusion of the group’s 2018 annual general meeting.

[Related: Non-major appoints former NAB exec to board]

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