REG - Nat.Australia Bank - Director Announcement

National Australia BankAnnouncement

29/10/2021 08:15

RNS Number : 7034Q
  
National Australia Bank Ld
  
29 October 2021
  
 

395 Bourke Street
Melbourne VIC 3000

AUSTRALIA
 
www.nab.com.au
 
 
 
ASX ANNOUNCEMENT
 
 
Friday, 29 October 2021
 
 
Director announcement
 
The Chair of National Australia Bank Limited, Philip Chronican, today announced that James Spenceley had decided not to proceed with his appointment as a NAB non-executive Director.
 
Mr Spenceley's appointment was announced on 20 October, to be effective 1 December 2021. His election was to have been considered by shareholders at NAB's annual general meeting on 17 December.
 
Mr Chronican said Mr Spenceley had reconsidered his overall commitments after feedback was received from proxy advisors as well as a number of NAB investors.
 
"James was selected to bring diversity of experience to the NAB Board and his interest in market transformation. He has advised that he does not want his appointment and other commitments to cause concern for NAB or his other business positions," he said.
 
"We accept his decision and will consider other candidates for the Board in due course, taking into account the need for Board renewal and breadth of experience."
 
Mr Spenceley said: "I have received feedback from proxy advisors on the impact of a large Board role on their ability to recommend my election at NAB and my other board positions. I appreciated the NAB opportunity and while I was comfortable with my capacity, I do not want to disrupt NAB, its shareholders or any company I am involved with."
 
 
For further information:
 
Media
Mark Alexander
M: +61 (0) 412 171 447
 
Investor Relations
Sally Mihell
M: +61 (0) 436 857 669
 
The release of this announcement was authorised by the Group Company Secretary.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
  END
 
 
BOAEAKENAESFFEA