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Kiwibank names new chairman

New Zealand-based Kiwibank Ltd. appointed Susan Macken as chairman.

The bank on April 10 said Macken will replace Rob Morrison, who is set to step down as chairman along with the bank's deputy chairman Rhoda Phillippo, effective April 13.

Macken currently serves as a director on the bank's board. The board is set to appoint a replacement for Phillippo.

Morrison and Phillippo's resignation comes after a transition period that saw new shareholders, the New Zealand Super Fund and the Accident Compensation Corporation, settle their investment in the bank's holding company, Kiwi Group Holdings Ltd.