Westpac appoints Steven Gregg as chair, veteran McFarlane to step down (updated)

Lottery

15/10/2023 22:23

(Updates with details and background in paragraphs 2-5)
       Oct 16 (Reuters) - Australian lender Westpac  WBC.AX  on
Monday appointed Steven Gregg as chairman-elect, replacing John
McFarlane who will complete his term on Dec. 14.
    Steven Gregg has been the chairman of Australian fuel
retailer Ampol  ALD.AX  since 2017 and of the ASX-listed Lottery
Corporation  TLC.AX , a position he will retire from in the
first quarter of 2024.
        Gregg, whose appointment will be effective Nov. 7, will
take the role over from veteran banker McFarlane, who has served
as the bank's chair since 2020 and was previously the group
chairman of global investment bank Barclays PLC.
  
        McFarlane is also the former chief executive of one of
Australia's 'Big Four' banks, ANZ Group  ANZ.AX .
    "From my observation, Westpac is in a period of transition.
After the hard work of simplification over the past three years,
now is the time to look forward and have a strong ambition,"
said Gregg. 
        
  

 (Reporting by Rishav Chatterjee in Bengaluru; Editing by Sandra
Maler and Deepa Babington)
 ((Rishav.Chatterjee@thomsonreuters.com;))