(13 January 2011 – Australia) The chairman of Westpac Banking Corporation has rubbished claims that the bank had hired Egon Zehnder, executive search, talent management and CEO succession planning firm, to find a replacement for chief executive Gail Kelly.The online publication Banking Day has reported that the board at Westpac had become disillusioned with progress under Ms Kelly, including delays updating its IT systems.
Westpac’s Chairman Mr Evans described the report as “extraordinary”, and said there was no truth to it.
Mr Evans told The Australian newspaper that they were delighted with the work Mrs Kelly was doing and that the report was absolute nonsense.
The newspaper also reported a possible image overhaul for the bank, with Damien Eales set to join the bank from David Jones as marketing chief in a couple of months and a potential change of advertising agency.