CBA long-serving chief to retire by next June
Ian Narev will be gone by the end of the current financial year after almost seven years on the job; chairwoman says departure has nothing to do with latest scandal
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Sydney
COMMONWEALTH Bank of Australia (CBA) CEO Ian Narev will retire by next June, Australia's No 2 lender said on Monday, after a week of damaging publicity about a money-laundering lawsuit led to calls for the long-serving chief to resign.
Mr Narev, 50, would be gone by the end of the current financial year after almost seven years in the job, a tenure marked as much by record profits as allegations of serious misconduct including insurance scams and poor financial advice.
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