Westpac Banking Corporation (ASX:WBC) set to replace Lindsay Maxsted on the board

Company News

by Rachael Jones

Westpac Banking Corporation (ASX:WBC) has today confirmed that Lindsay Maxsted will retire from the Board effective 31 March 2020.

John McFarlane will become Chairman of the Westpac Board and the Board Nominations Committee, effective 1 April 2020, representing the start of Westpac’s Second Half 2020.

McFarlane joined the Board on 17 February 2020 and has worked closely with Mr Maxsted, the Board and with senior management to ensure an orderly transition of the Chair.

Maxsted joined the Board in March 2008, has been Chairman since December 2011 and during his time as a Director has served on numerous Board Committees, including the Audit, Nominations, and Risk & Compliance Committees.

Westpac Banking Corporation (ASX:WBC) closed 0.1 per cent higher at $22.25 yesterday.