Business Services Industry
Norris vows double-digit growth.
Australasian Business Intelligence, June, 2005
Jun 14, 2005 (The Australian Financial Review - ABIX via COMTEX)
The Commonwealth Bank of Australia (CBA) has appointed Ralph Norris, 56, to replace David Murray as CEO. Norris is currently the CEO of Air New Zealand, but before that he worked for 30 years at New Zealand's ASB Bank, a subsidiary of the CBA. Norris has pledged to adopt a more "aggressive growth strategy" at the bank. Murray will leave the CBA later in 2005, taking a payout of around $A40 million.CBA chairman, John Schubert, has praised Norris for his "team and leadership skills". Norris's annual remuneration will be around $A7.6 million, and his contract has no fixed term.
Publication Date: 15 June 2005
COMMONWEALTH BANK OF AUSTRALIA - ASX CBA:
AIR NEW ZEALAND LIMITED...
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