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NAB's Andrew Thorburn, Ken Henry resign, Phil Chronican named acting CEO

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NAB's embattled chief executive Andrew Thorburn and chairman Ken Henry have capitulated to growing pressure and announced their resignations as the crisis of confidence swirling around the bank came to a head.

The bank has tapped veteran banker Phil Chronican to replace Mr Thorburn from February 28 as acting chief executive, while Dr Henry will remain in his role until a new leader is found.

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James Frost writes about banking, funds management and superannuation. Based in Melbourne, James has been reporting on specialist business and finance topics for 15 years. Connect with James on Twitter. Email James at james.frost@afr.com
Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au

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    Original URL: https://www.afr.com/companies/financial-services/nab-shares-suspended-ahead-of-leadership-announcement-20190207-h1az9q