Westpac Banking Corporation
(ASX:WBC) has announced some key executive staff movements, igniting discussion in some parts of the media on who will eventually replace current head Gail Kelly.
Phil Coffey, the current CFO has been appointed Deputy Chief Executive Officer, reporting directly to Ms Kelly. Mr Coffey will work closely with Ms Kelly overseeing Westpac’s contribution to the Federal Government’s Financial System Inquiry. He will retain his current responsibilities for strategy, mergers and acquisitions.
Peter King, a Westpac veteran of 20 years has been promoted to the role of Chief Financial Officer from the position of deputy.
Westpac Corporation produced a net full year profit of $6.89 billion for the full year ending September 30, 2013.
