New non-exec director joins CBA

Commonwealth Bank has announced Lyn Cobley’s appointment to the CBA board as independent non-executive director, effective Oct. 1.

Cobley has more than three decades of financial services experience, including as CEO of Westpac’s institutional business, chair of Westpac’s Asia advisory board, and group treasurer of CBA.

“On behalf of the board, I am delighted to announce Lyn’s appointment, and to welcome her breadth of financial services experience in her role as a non-executive director of CBA,” said Paul O’Malley, CBA chair.

CBA also announced that Shirish Apte, independent non-executive director of the CBA board, has decided not to offer himself for re-election at the 2022 annual general meeting. Apte joined the Board in June 2014 and has been a member of the board audit committee and board risk and compliance committee. He was also chair of the board risk and compliance committee.

O’Malley, on behalf of the board, thanked Apte for his contribution to CBA during his more than eight years as a director.

Apte’s “financial services experience has been invaluable to CBA, particularly in relation to the board’s decision making on strategy and operational risk,” O’Malley said. “Throughout his tenure, Shirish has displayed a strong interest in customer and strategic outcomes. Shirish also played a key role in the completion of the Remedial Action Plan and oversight of CBA’s stronger culture of accountability.”