Jon Hartley has been appointed to chair Kiwibank after current chair Dr Susan Macken said she would not stand for reappointment.

Macken's term will end on November 28 when Hartley will step into the role.

She was appointed to the Kiwibank Board as an independent director for a three-year term in November 2016 and became Chair in April 2017.

Macken said she had decided not to seek reappointment after reflecting on the changing nature of the governance requirements for the bank as it evolved.

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"I decided Kiwibank would best benefit from a chair with the specific skills to lead them in this new chapter, and informed shareholders and the board last month I would not be seeking reappointment.

"I felt it was important to signal this now rather than in a year, so the board could look to appoint a chair to oversee the governance – and success - of the organisation into the 2020s."

Jon Harley, is to become the chairman of Kiwibank. Photo/Supplied.
Jon Harley, is to become the chairman of Kiwibank. Photo/Supplied.

Hartley has 44 years experience in business and banking and has previously been on the board of ASB bank as deputy chair.

He currently sits on the board of Chorus as deputy chair and is chair of Timberlands, the manager of the Kaingaroa Estate and the Wellington City Mission.

Kiwibank is part of Kiwi Group Holdings which its 53 per cent owned by New Zealand Post, 25 per cent owned by New Zealand Superannuation Fund and 22 per cent owned by ACC.

Kiwi Group Holdings board chair Jackie Lloyd said Hartley had considerable governance and commercial expertise including as deputy chair of ASB where he was on the board for 12 years and 17 years of international banking experience with VisionFund International - the microfinance subsidiary of World Vision International.

"The board and management of Kiwibank will benefit greatly from Jon's experience, leadership and insights as it implements its strategy of ensuring more Kiwi families and businesses choose to partner with a New Zealand-owned bank."