In a statement the Australia and New Zealand Banking Group Ltd said, Paul O’Sullivan, the current chairman of Optus, will succeed its current Chairman David Gonski, who is set to retire in October 2020.

Gonski, who has been ANZ’s chairman since 2014, will leave after the finalization of the group’s full-year results, said the bank.

O’Sullivan currently serves on the board of Coca-Cola Amatil; previously he has held senior positions at Singapore Telecommunications, including the role of chief executive of its Optus division.

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