ANZ chairman addresses AGM: New CEO, strategy, and shareholder concerns

At its 2025 Annual General Meeting, ANZ Group Holdings chairman Paul O'Sullivan announced significant leadership changes, including the appointment of Nuno Matos as the new chief executive officer in May 2025. Matos's immediate impact includes a refreshed ANZ 2030 strategy and the appointment of four new group executives: Stephen White (chief operations officer), Pedro Rodeia (group executive retail), Donald Patra (group chief information officer), and Christine Palmer (group chief risk officer). The board recognized the organizational restructure is challenging for employees but deemed it necessary for a strong and viable business.

The chairman also addressed the bank's financial performance, noting a challenging year with full-year statutory profit down 10% on the prior year. However, adjusting for significant items, cash profit was flat at AUD6.9 bn. A final dividend per share of AUD0.83, franked at 70%, will bring the full-year dividend to AUD1.66 per share. Shareholder resolutions on remuneration and climate change were contentious, with the remuneration report expected to receive a "strike" and item 5 regarding constitutional amendments on climate change not expected to pass.

The bank affirmed its commitment to managing climate change risks and supporting an orderly transition for business customers in line with the Paris Agreement targets. However, the board does not consider the proposed constitutional amendments on climate change to be in shareholders' best interests. Similarly, the bank views the adoption of a deforestation standard as premature due to data gaps and complex regulatory environments.