As part of this journey of cultural change, we are also reviewing the internal processes and structure that support the Board's decision-making. The Review recommended that we appoint a Chief Operating Officer to help achieve the objectives of being an open and dynamic organisation and to ensure our operations are efficient. This recommendation also makes sense.
The Bank has become a more complex organisation over time and standards of governance continue to rise. We are currently working through the appropriate span of control and reporting lines of the Chief Operating Officer and will begin the search process for this role later this year.