Former ANZ CEO Shayne Elliott drops bonus lawsuit; no payout, both sides pay own costs.

Former ANZ CEO Shayne Elliott has dropped his lawsuit against the bank over an unpaid bonus, with both sides agreeing to end the legal battle without a financial settlement and each covering their own costs. The decision follows regulatory issues during his tenure, including four settled cases involving misconduct, incorrect trading data, and a government bond deal where ANZ admitted unconscionable conduct affecting nearly 65,000 customers. Neither Elliott nor his successor, Nuno Matos, received short-term bonuses or incentive payments for 2025, totaling an estimated $13.5 million in lost compensation. ANZ confirmed no payments were made to Elliott, and the outcome reflects the bank’s accountability measures.