December 17, 2018 / 4:47 AM / a month ago

Australia bank NAB's CEO to take 2-month holiday around inquiry report release

SYDNEY, Dec 17 (Reuters) - National Australia Bank Ltd said on Monday its CEO will take about two months leave around the scheduled release of a major report into the country’s finance sector, prompting a rebuke from a shareholder group.

A spokesman for Australia’s fourth-largest lender said its CEO Andrew Thorburn would take a holiday after its annual shareholder meeting on Wednesday, where investors are likely to cast a protest vote against the pay packages of its top executives.

Thorburn would “return to work for the release of the Royal Commission’s final report, and to consider and lead NAB’s response,” a spokesman said in an email.

“He will then take a month’s long service leave to refresh, recharge and spend time with his family before returning to lead NAB through the next stage of our transformation.” (Reporting by Paulina Duran; Editing by Muralikumar Anantharaman)

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