Westpac (ASX:WBC) welcome John McFarlane as incoming Chairman

Company News

by Rachael Jones

Westpac (ASX:WBC) today welcomes John McFarlane to the Westpac Board as Non-Executive Director and Chairman-Elect.

He succeeds Lindsay Maxsted on 2 April 2020.

He will start as Non-Executive Director in February, subject to regulatory approvals.

Mr Maxsted said, “Mr McFarlane is not only well known in Australia and New Zealand, but is a respected banking leader globally who brings to our organisation more than 44 years’ experience in financial services." 

Most recently, Mr McFarlane was Chairman at Barclays in London, which after the global financial crisis underwent a decade of challenge.

Shares in The Westpac Group (ASX:WBC) closed 0.1 per cent higher at $25.14 yesterday.