Catherine Livingstone is the new chair of the Commonwealth Bank

Catherine Livingstone. Image: Telstra

Catherine Livingston, a former chair of Telstra and chief executive at Cochlear, is taking the chair at the Commonwealth Bank, Australia’s biggest ASX-listed company by market capitalisation.

The 61-year-old has been a non-executive director of the bank since March this year. She is currently president of the Business Council of Australia and will retire from that role next month.

“It is an enormous honour to be appointed chairman by the board of the Commonwealth Bank of Australia,” she says.

She replaces David Turner, chair since 2010, who will retire from the board at the end of December.

Turner said: “Catherine’s strong business experience complemented by her interest in technology and innovation will mean she will be an excellent and well-qualified chairman.”

Livingstone is a former chair of Telstra and of the CSIRO. She has also served on the boards of Macquarie Group, Goodman Fielder and Rural Press.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.