National Australia Bank CEO says he just has to weather media coverage of investor complaints
The Australian Financial Review reported on July 15 that at an investor lunch last month, some major investors in the bank had questioned whether Andrew Irvine, CEO since April 2024, should strengthen his leadership skills and curtail his drinking at events.
The complaints prompted the board of the country's biggest business lender and third-largest mortgage provider to increase mentoring and provide more leadership development, the AFR said.
NAB's board has said it stands by Irvine.
"I'm not going to beat around the bush, especially when media is quite personal and public: it was hard for me and for my family," Irvine said in his first public remarks since the report.
Speaking at a conference held by the Australian Banking Association, an industry body he chairs, Irvine said public figures should expect scrutiny.
"I've just got to get through it and I plan on doing that", he said, adding that he was energised by a "noble purpose in what we do, helping people navigate their financial lives".
Scrutiny of CEO conduct in Australia has been intense over the past year.
The CEO of logistics software company Wisetech (WTC.AX), opens new tab Richard White stepped down after allegations about aspects of his personal life, though he has since become the company's executive chair. Mineral Resources (MIN.AX), opens new tab said late last year its billionaire founder, Chris Ellison, would leave within 18 months after an internal probe found he used company resources for his personal benefit and evaded taxes.
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