Pacific National has recruited former Commonwealth Bank chairwoman Catherine Livingstone to lead its board as the freight giant looks to pull clear of an inflationary squeeze and disruptions from COVID-19 and flooding.

Ms Livingstone will replace Russell Smith, a partner at Global Infrastructure Partners, one of Pacific National’s shareholders. He will remain on the board, where he has been since 2016, when Asciano agreed to sell the business to a consortium which included CPP Investment Board, the China Investment Corporation, and the Singaporean sovereign wealth fund.