The Commonwealth Bank of Australia’s
(ASX:CBA) Aussie Home Loans is affirming its independence announcing Chairman John Symond will select its new Chief Executive Officer.
The statement came after news Stephen Porges resigned from the top job to pursue other interests.
While speculation was rife that CBA would move in as the majority owner to fill the position, Mr Symond says he will personally select the replacement for Mr Porges.
The resignation of Mr Porges, who finished at the company last week, came less than a month after Commonwealth Bank of Australia Ltd acquired the mortgage broker.
Last month, the competition watchdog granted CBA approval to lift its stake in Aussie to 80 per cent, but Mr Symond has long said the move would not impede on the broker's independence.
CBA reported a net profit of $3.7 billion for the first half of the 2013 financial year.
