Chief Executive Officer of the Commonwealth Bank, Matt Comyn, has announced that David Cohen will finish his role as Deputy CEO on 31 December 2023. In November 2018, David was appointed to the newly created role of Deputy CEO which was designed to support the bank's efforts to simplify its portfolio and increase focus on customer remediation and complaints. With the recent announcement of the intended sale of CBA's Indonesian subsidiary, PT Bank Commonwealth, and substantial progress on legacy customer remediation programs, the work of the Deputy CEO has been successfully achieved and therefore the role is no longer required.

David will continue to serve as CBA's representative on the Board of PT Bank Commonwealth during its sale transition, and remain a director of ASB, the Group's New Zealand banking and funds management businesses. David joined CBA in 2008 and during his 15 years of service he has held the roles of Group General Counsel, Group Executive Human Resources, Group Executive Corporate Affairs and Chief Risk Officer. In his most recent role as Deputy CEO, David has overseen CBA's divestments of nine non-core banking entities, supervised a number of mergers and acquisitions to help strengthen the bank's unique customer value proposition, and guided CBA's efforts to improve customer complaint resolution and remediation.