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NAB appoints 2 new board directors

The major bank has appointed two women — a financial services executive and a media executive — as independent non-executive directors.

The chair of National Australia Bank Limited, Philip Chronican, has announced that Carolyn Kay and Christine Fellowes have been appointed as independent non-executive directors (subject to regulatory approval).

Ms Kay has more than 30 years of experience in financial services, including as a banker and lawyer at Morgan Stanley, JP Morgan, and Linklaters & Paines.

She is expected to join the board on 31 July.

Mr Chronican commented: “Carolyn has been a director of enterprises across a broad range of sectors, which currently includes Scentre Group Ltd, Foreign Investment Review Board and Myer Family Investments, and she recently stepped down as a Guardian of The Future Fund.

“This follows an extensive executive career in financial services internationally and in Australia.

“She is highly regarded across the various corporate, government and for-purpose roles she has held and will add to the core banking industry knowledge on the NAB board, as well as an international perspective.”

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Ms Fellowes is a media executive with more than 30 years of experience, including 11 years as the managing director, global network and direct-to-consumer for Asia Pacific at NBCUniversal Media.

Mr Chronican said: “Christine brings experience in digital disruption, transformation and technology, primarily from the media industry...

“Her roles have required expertise in understanding different markets, cultures, demographics and consumer trends.”

Ms Fellowes is expected to join the NBA board on 5 June.

Mr Chronican commented that the two new appointments were aligned with the board’s renewal strategy, adding: “The board is delighted to be welcoming Carolyn and Christine as directors.

“We expect they will each make an immediate positive contribution to the board,” Mr Chronican said.

Ms Fellowes and Ms Kay’s appointments will take the NAB board to 11 directors, including the managing director (chief executive Ross McEwan).

Two current non-executive directors, David Armstrong and Peeyush Gupta, will stand down from their positions following the company’s 2023 AGM in December, having served three 3-year terms on the board.

[Related: NAB ups its cash rate forecast]

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