Westpac withdraws AGM resolutions

The Westpac board has withdrawn two resolutions from its 2019 notice of annual general meeting following the resignation of the bank’s chief executive and managing director, Brian Hartzer.

The two resolutions were the re-election of Ewen Crouch as a director and the grant of equity to the managing director and chief executive, Westpac said in an announcement to the Australian Securities Exchange (ASX).

“These items are no longer required following the board’s announcement…. including Brian Hartzer will be stepping down as CEO effective Monday 2 December, 2019, and that Ewen Crouch has decided he will not be seeking re-election at the upcoming Westpac AGM. Therefore these items will not be put to a vote at the AGM,” it said.

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Nerida Caesar and Peter Marriott are up for re-election, as well as the election of Steven Harker and Margaret Seale as directors.

Other items of business for the AGM include financial reports, remuneration report, conditional spill resolutions, and resolutions requisitioned by shareholders.

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