Leadership changes at ANZ New Zealand
ANZ has appointed Antonia Watson as acting chief executive officer (CEO) of ANZ New Zealand, following the departure of David Hisco amid health and accountability concerns.
Hisco’s departure followed ongoing health issues as well as board concern about the characterisation of certain transactions following an internal review of personal expenses.
Although Hisco did not accept the concerns raised by the board, he accepted accountability and agreed the characterisation of the expenses falls short of the required standard.
Rt Hon John Key, ANZ New Zealand chair, said they were disappointed Hisco was leaving under these circumstances, but it was the correct decision.
“We are fortunate to have an experienced executive in Antonia Watson to step in while we conduct a search for a replacement,” Key said.
“Antonia’s extensive banking career has her well placed to help ANZ manage through this transition.”
Hisco would receive his contracted and statutory entitlements to notice and untaken leave, with all unvested equity to forfeit.
AUTHOR
Chris Dastoor
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