CBA CEO Ian Narev to retire by end of year
14 August 2017
Commonwealth Bank chief executive Ian Narev will leave the bank by the end of the 2018 financial year.
Mr Narev has led Australia's largest bank to a series of record annual profits but has been under pressure for the past two weeks after AUSTRAC alleged CBA of breaching money laundering and terrorism financing laws.
"In discussions with Ian, we have ... agreed it is important for the business that we deal with the speculation and questions about his tenure," chairman Catherine Livingstone said in a statement to the ASX on Monday.
More to come.