Asked by ABC Television's Inside Business about succession planning for the position of chief executive at the bank, National Australia Bank's chair, Michael Chaney, said, "I wouldn't say it's a two horse race, we haven't made that sort of statement. "As you know we revised John Stewart's contract recently and extended it and we've put it on a one-year rolling evergreen basis and so there is no pre-determined time at which John will go and in the period during which he's here, we'll be having a look at candidates internally, there may be two, there may be more, and at the same time we'll be considering, as time goes by, external candidates as well. "One would always hope that you'd have an internal candidate coming up through but we'll see how that develops over the years."