Chris Lynch steps down from Westpac board
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The news: Former Rio Tinto boss Chris Lynch will not stand for re-election as an independent non-executive director at Westpac.
The context: Lynch joined the board in September 2020 during a period of board and executive renewal for Westpac in the aftermath of an anti-money laundering scandal. Chair John MacFarlane also announced his resignation from the board last week.
What they said: "He made a significant positive impact as CFO and director at BHP and Rio Tinto, and also as CEO of Transurban," Westpac chair John MacFarlane said in a statement.
"Over the past three years he brought that expertise and financial acumen to Westpac and the company is all the better for it."
The source: ASX announcement
