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Major bank announces executive change

NAB has announced the retirement of its group executive people and culture Susan Ferrier as of 31 October 2023.

Ms Ferrier joined the major bank in 2019 from KPMG, as global head of people, with an international human resources career stretching more than three decades across professional and financial services.

Group chief executive Ross McEwan said Ms Ferrier led her team through a significant increase in capability and impact during close to four years with NAB.

“I am grateful to Susan for the outstanding role she played in leading the company’s response to the pandemic,” Mr McEwan said.

“Susan has contributed towards our ambition to drive a high-performance culture at NAB.

“She has been passionate about our professionalism and consistent approach to supporting customers and colleagues.”

After her retirement, Ms Ferrier intends to move into non-executive director roles. She is currently a director for the Financial Executives Institute of Australia, Committee for Sydney, and the Sydney Symphony Orchestra.

NAB is yet to name a successor for Ms Ferrier’s role at the time of writing (4 July 2023).

The announcement of Ms Ferrier’s retirement followed the appointment of Alison Kitchen as an independent non-executive director with the major bank as of 27 September 2023.

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Similar to Ms Ferrier, Ms Kitchen will join NAB from KPMG after a 30-year career, where she served as the national chair and a member of KPMG’s global and regional boards for almost six years.

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.

“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.

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.

Ms Kitchen will become a member of the major bank’s board audit committee, succeeding David Armstrong as chair after the NAB 2023 AGM.

[RELATED: NAB appoints new non-executive director]

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