Outgoing Telstra chair Catherine Livingstone is joining the Commonwealth Bank's board as an independent non-executive director.
Her new role starts immediately and comes a week after Telstra announced its longstanding chair would step down in coming months.
Commonwealth Bank chair David Turner said her skills and experience, particularly in banking, would complement the board's skills.
Ms Livingstone is a chartered accountant who has previously served on the board of Macquarie Group.
The 60-year-old has been Telstra's chair for nearly seven years, during which time she played an instrumental role in returning the telco to market dominance.
She will be replaced by rail and ports operator Asciano's boss John Mullen as Telstra's chair.
Commonwealth Bank also announced one of its board directors, Jane Hemstritch, will retire on March 31.
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