The Board of Westpac New Zealand Limited has announced changes to its membership, with one director retiring and three others being appointed.
Malcolm Bailey is retiring from the Board after a term of nine years.
“We’ve been fortunate to be able to call on Malcolm’s significant experience in economics, technology and agriculture,” said incoming Board Chair Pip Greenwood.
“His former roles with organisations like the Reserve Bank, Federated Farmers and Fonterra provided a deep understanding of some of the core issues that touch the world of banking.”
Mr Bailey will conclude his directorship on 31 August 2021.
David Havercroft joined the Board as an independent non-executive director from 19 August 2021.
Ms Greenwood said Mr Havercroft had a thorough grounding in the governance of technology companies.
“David has acted as an advisor to the Westpac NZ Board Technology Committee since 2020. He is also a director of Southern Cross Cable Networks, KiwiWealth, Kordia Group and Connect 8.
“He was appointed this month to the Board of Spark New Zealand after earlier working for the company as the Chief Technology Officer and Chief Operating Officer.
“Westpac NZ has a strong focus on improving technology across the bank and the Board looks forward to drawing on David’s wealth of knowledge in this area,” Ms Greenwood said.
Westpac Group executives Christine Parker and Michael Rowland joined the Board as non-independent non-executive directors from 30 August 2021.
Ms Parker holds the position of Group Executive Human Resources at Westpac Group, while Mr Rowland is the bank’s Chief Financial Officer.
“Christine has been with the bank for 14 years and was formerly the General Manager of Human Resources at Westpac NZ, so knows our organisation inside out,” said Ms Greenwood.
“She’s also held senior roles with Carter Holt Harvey and Restaurant Brands New Zealand.
“Before joining Westpac last year, Michael was a Partner in Management Consulting at KPMG. Prior to this, he worked for 14 years at ANZ where he held a variety of senior executive positions including, CFO New Zealand and CEO Pacific.
Ms Greenwood said banking was a fast-changing industry, with evolving regulatory requirements and customer expectations.
“Westpac NZ is a fundamentally strong organisation. However, like lots of companies we’re seeing plenty of disruption to the way we’ve traditionally done things.
“Therefore, it’s never been more important to have a diverse and experienced Board, that can spot opportunities early and respond to challenges.
“David, Christine and Michael will bring valuable perspectives, which we look forward to utilising.”
The Reserve Bank of New Zealand has provided non-objection to the three appointments.
Current Board Chair Jan Dawson announced in July that she would retire on 1 October 2021, and be replaced by Ms Greenwood.