Westpac chief executive, Brian Hartzer is stepping down in the wake of the AUSTRAC fiasco.
The big banking group announced to the Australian Securities Exchange (ASX) today that Hartzer would be stepping down with chief financial officer, Peter King, taking over effective from Monday, 2 December.
It said the current COO, Gary Thursby would act as CFO.
The ASX announcement said that in addition to the executive changes, long-stand director, Ewen Crouch would not b e seeking re-election at the upcoming annual general meeting and that the chairman, Lindsay Maxsted would be bringing forward his retirement.
