Commonwealth Bank non-executive director Catherine Livingstone will succeed Chairman David Turner when he retires at the end of December.

Ms Livingstone is President of the Business Council of Australia, and will relinquish that role next month.

She has an extensive business background, having served as chairman of Telstra and CSIRO during a career spanning more than 22 years.

Ms Livingstone was made an Officer of the Order of Australia in 2008.

“Her strong business experience complemented by her interest in technology and innovation will mean she will be an excellent and well-qualified Chairman,” Mr Turner said.

Mr Turner has been Commonwealth Chairman since 2010.

CBA’s insurance arm, CommInsure, provides general and life products.