NAB appoints new non-executive director

National Australia Bank (NAB) has announced the appointment of Alison Kitchen as an independent non-executive director, effective 27 September 2023, where she will retire from KPMG.

Having served as the national chair of KPMG Australia and a member of KPMG’s global and regional boards for almost six years and an employee for over 30 years, Ms Kitchen brings a wealth of experience to her new role, NAB said.

During her tenure, Ms Kitchen has provided advice in areas including external audit, transaction support, risk management, internal controls, business processes, and regulatory change to a wide range of industries, including financial services.

NAB chair Philip Chronican expressed his confidence in Ms Kitchen, emphasising her highly credentialled status as a business leader and her relevant expertise.

He stated that her appointment aligns with NAB’s board renewal strategy.

Pending regulatory approval, Ms Kitchen will join Carolyn Kay and Christine Fellowes as director appointments to be considered by NAB’s shareholders at the 2023 annual general meeting (AGM) on 15 December.

She will become a member of the NAB board’s audit committee and succeed David Armstrong as chair of that committee after the NAB 2023 AGM.

“We are delighted to have Alison join the NAB board after such a significant career with KPMG and contributing more broadly to the Australian business community,” Mr Chronican said.

With Ms Kitchen’s appointment, the NAB board will consist of 12 directors, including the managing director.

David Armstrong and Peeyush Gupta, two non-executive directors, will retire at the AGM after completing three 3-year terms.

In other news, Phil Waugh, the head of broker distribution at NAB, recently announced his departure from his position as executive, broker distribution, which he held since 2021.

Mr Waugh, a former Wallabies star and a non-executive director of Rugby Australia for the past five years, will commence his new role of chief executive at Rugby Australia on 6 July.

NAB’s executive for home lending, Andy Kerr, praised Mr Waugh’s leadership during his tenure, stating: “Over the last two years under Phil’s leadership, NAB has transformed its position as the ‘Bank behind the Broker’ with fast, consistent service and strong relationships which are now the cornerstone of our customer experience.”

[Related: NAB, CBA confirm head of broker changes]