Andrew Thorburn is taking an extended break over the summer.
The NAB chief executive will take most of January off before returning for a period to deal with the bank’s response to the Hayne royal commission which is due to report on February 1st.
Business Insider has confirmed he will then take a period of further leave — as much as a month — after dealing with the royal commission fallout.
In a note circulated to staff at NAB yesterday, Thorburn explained:
I spent time with our Executive Leadership Group (ELG) on Friday, reflecting on 2018 and looking forward to the year ahead. I said to the ELG that it has been the biggest, most relentless year of my career – and I know this is true for many of our people at NAB. I’ll be taking time over the Christmas and New Year period to reflect and recharge, and spend time with my family. I’ll be back at the end of January/start of February as the final Royal Commission report is issued… a very significant time for the industry and for NAB as we continue to change and become better for our customers. After that I’ll be taking four weeks of long service leave – a further chance to reflect and recharge, and come back refreshed and ready for what 2019 brings.
Thorburn discussed taking some of his long service leave with chairman Ken Henry and the board at the start of this year.
NAB’s share price is around 1.4% lower in early afternoon trade, in line with falls in the share prices of other major banks.
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