![CBA chairman Catherine Livingstone will need all her inner mettle.](http://web.archive.org./web/20170812115955/http://www.afr.com/content/dam/images/g/x/s/u/q/g/image.related.afrIndexLead.160x106.gxtxom.png/1502508285900.jpg)
Catherine Livingstone's mega challenge
Catherine Livingstone, to all public appearances, is dealing with this profound crisis swiftly.
Joanna Gray writes on Leadership specialising in Management, Company Culture, Innovation. Based in our Sydney newsroom, Joanne edits BOSS, has over 20 years experience as financial journalist and has worked for Bloomberg and Euromoney in Europe and China.
Catherine Livingstone, to all public appearances, is dealing with this profound crisis swiftly.
When Catherine Livingstone saw the 580-page statement of claim, she must have seen the grave threat it posed to the reputation of CBA.
The CBA board's decision to cut executive bonuses and directors' fees was startling simply because this level of accountability is rarely, if ever, seen on Australian boards.
The Commonwealth Bank board has to assess how widespread compliance issues are at the bank.
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