The current chair will retire in October
The Bendigo and Adelaide Bank will have a new chair this October after a longstanding bank leader steps down from the role.
David Foster (pictured above left) has been appointed new chair of the Bendigo and Adelaide Bank board, succeeding Jacqueline Hey (pictured above right) who has decided to retire from the board after more than 12 years.
Hey has been with the board since July 2011 and became the bank’s first female chair in 2019. She will retire after the full-year results have been finalised at the annual general meeting on Oct. 24.
“I am proud to have served Bendigo and Adelaide Bank as a director and chair during a period of significant change for the bank, its customers, and the community,” Hey said. “Working closely with [the] board and the executive team during this period has been a highlight of my career. I am pleased that David Foster, as an existing member of the board, will become chair when I leave.”
The outgoing board chair expressed confidence that the good progress the bank has made on its transformation agenda in recent years “will ensure the bank remains well positioned to continue delivering on its purpose of feeding into the prosperity of its customers and the community well into the future.”
Incoming Bendigo and Adelaide Bank board chair Foster joined the board in 2019 and is currently chair of the board financial risk committee as well as a member of the people, culture, and transformation committee.
He is a seasoned executive with 25 years of experience with strategy, operational leadership, finance and risk management, product management, marketing, and change management, most recently as CEO at Suncorp Bank, where he delivered a significant turnaround and restructuring of the bank from 2008 to 2013.
Foster is also an experienced chairman and non-executive director across a range of government and private industry sectors, including financial services, education, entertainment, and retail.
“It has been a privilege to serve with Jacquie on the board and I am pleased to be appointed chair of Bendigo and Adelaide Bank,” Foster said. “I look forward to building on the strong progress that has been made under Jacquie’s thoughtful stewardship and continue delivering on the bank’s purpose.
“As chair, my focus will be to prioritise sustainable growth and ensure that the bank continues to improve its performance for the benefit of our customers, people, partners, communities, and shareholders as we execute on our vision to be Australia’s bank of choice.”
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