ANZ chief may stay a few months longer

ANZ said it extended the contract of chief executive John McFarlane by three months until the end of 2007 and he may yet stay on. Late last month, chairman Charles Goode appeared to rule this out, arguing there “comes a point where management change has got to happen”. The change of heart follows meetings in Sydney last week between the bank's institutional shareholders, Goode and ANZ non-executive director, David Gonski.

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