Overview

• In his first public comments since mid-July, Andrew Irvine said media coverage of investor complaints was hard on him and his family and that he intends to persevere
• The NAB board reaffirmed its unchanged support for Irvine last week, citing sound financial and operational results under his leadership
• Directors have launched targeted mentoring and leadership development programs in response to concerns over his presentation and conduct at customer events
• Major investors first voiced doubts at a June lunch in Sydney with chairman Phil Chronican, questioning whether Irvine should curb his drinking at bank gatherings
• Irvine emphasized his commitment to NAB’s “noble purpose” of helping people navigate their financial lives as a key source of motivation