Thursday 24th June 2021
|Text too small?|
Westpac Group has today announced it is retaining its one hundred per cent ownership of Westpac New Zealand Limited (WNZL) and will not proceed with a demerger of its Westpac New Zealand business.
Westpac Group Chief Executive Officer, Peter King, said: “After a detailed review, we believe a demerger of the WNZL business would not be in the best interests of shareholders.
“Our review identified opportunities to improve service for customers and value across the WNZL business and we will progress these with the WNZL Board and management team.
“WNZL is a strong business that has been serving New Zealand for 160 years. We remain committed to delivering for customers and fulfilling our purpose of helping Australians and New Zealanders succeed,” Mr King said.
The WNZL Board’s priority is to finalise the appointment of a new CEO to replace David McLean who retires on 25 June 2021. Simon Power, General Manager Institutional and Business Banking, will act as CEO from 25 June 2021.
Please see the link below for details
No comments yet
Pacific Edge Limited (NZX: PEB) Placement Upsized Following Strong Demand
24th September 2021 Morning Report
23rd September 2021 Morning Report
Pacific Edge Limited (NZX: PEB) Dual Lists on ASX; Announces Capital Raise to Accelerate
Tower Limited (NZX: TWR) Updates Guidance
South Port New Zealand Limited (NZX: SPN) 2021 Annual Report
22nd September 2021 Morning Report
Kathmandu Holdings Limited (NZX: KMD) FY21 Annual Results Announcement
Stride Property Ltd & Stride Investment Management Ltd (NZX: SPG) Update on Demerger and Office Fund
21st September 2021 Morning Report