The Commonwealth Bank of Australia (OTC:CMWAY) (CBA) has announced the departure of Deputy CEO David Cohen, effective December 31, marking the end of a significant chapter in the bank’s recent history. Cohen’s tenure, which began in November 2018, has been marked by substantial operational streamlining and enhancements in customer remediation processes.
During his time with CBA, Cohen spearheaded the divestiture of nine non-core banking divisions and played a critical role in managing key mergers and acquisitions. His efforts have been integral to the bank’s strategy of simplifying its portfolio, a move that has now reached its objectives. As a result of this completion, CBA has decided to phase out the deputy CEO role following Cohen’s exit.
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