The Chairman of the ANZ Group Paul O'Sullivan today announced Rt Hon Sir John Key GNZM AC will retire from all ANZ Boards on 14 March 2024 with the Board of ANZ Bank New Zealand Limited (ANZ New Zealand) appointing Scott St John Chair, effective 14 March 2024.
Mr St John has also been appointed to the ANZ Group Board expected to be effective 25 March 2024.
Sir John Key was New Zealand's 38th Prime Minister serving from 2008 until 2016. After retiring from a distinguished career in politics, Sir John was appointed Chair of ANZ New Zealand in January 2018 and joined the Group board the following month.
Mr O'Sullivan said: "Sir John has made an enormous contribution to ANZ with his unparalleled international business and political experience playing a critical role in our ongoing success. As a Board we will miss his wise counsel, global insights and good humour and we wish him and his family the very best for the future."
"Scott St John's deep business experience, particularly in financial markets, makes him an ideal replacement for Sir John as Chair of ANZ New Zealand. He has served admirably on the ANZ New Zealand Board since 2021 and we look forward to welcoming him to the Group Board next month," Mr O'Sullivan said.
Commenting on the announcement Sir John said: "I'm proud to have played my part in making ANZ a better company for our customers, shareholders and employees over the past six years. While it's the right time for me to step back on my commitments, I know ANZ is in a strong position and that Scott St John will be an outstanding Chair of ANZ New Zealand and Director of ANZ Group."
A former long-term CEO of First NZ Capital (now Jarden), Mr St John is the Chair of Mercury NZ Limited and Fisher and Paykel Healthcare and serves on the Boards of Fonterra and NEXT Foundation. He was Chancellor of the University of Auckland from 2017 to June 2021, having also been a member of the University Council from 2009.
Mr St John was also a member of the Capital Markets Development Taskforce, the Financial Markets Authority Establishment Board and the Security Industry Association, which he chaired.
Mr St John said: "It's a privilege to succeed Sir John as Chair of ANZ New Zealand and I'm looking forward to also contributing to the Group Board as we continue efforts to make ANZ better for our customers and the community."
Approved for distribution by ANZ Group Chairman and the ANZ New Zealand Board Chair
