WEBNF Westpac Banking Corp Ltd (PK)

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

November 5, 2024

 

Commission File Number 1-10167

 

WESTPAC BANKING CORPORATION

(Translation of registrant’s name into English)

 

275 KENT STREET, SYDNEY, NEW SOUTH WALES 2000, AUSTRALIA

(Address of principal executive office)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F     x           Form 40-F     ¨

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ¨

 

 

 

Incorporation by Reference

 

The information contained in this Report on Form 6-K, excluding the information set forth in Exhibit 1, shall be incorporated by reference in the prospectuses relating to the Registrant’s securities contained in the Registrant’s Registration Statements on Form F-3 (File Nos. 333-260702 and 333-260703), as such prospectuses may be amended or supplemented from time to time.

 

Retirement of Non-Executive Directors

 

Westpac Banking Corporation (Westpac) today announced the retirement from the Board of Independent Non-executive Directors Dr Nora Scheinkestel and Audette Exel AO.

 

Dr Scheinkestel will retire from the Westpac Board effective Wednesday November 6, 2024. Audette Exel has decided not to stand for re-election and, accordingly, will step down from the Board on Friday December 13, 2024.

 

New appointments to the Board will be made in due course.

 

Index to Exhibits

 

Exhibit No.		Description
1		Retirement of Non-Executive Directors

 

Disclosure regarding forward-looking statements

 

The information contained in this Report on Form 6-K contains statements that constitute “forward-looking statements” within the meaning of section 21E of the U.S. Securities Exchange Act of 1934.

 

Forward-looking statements are statements that are not historical facts. Forward-looking statements appear in a number of places in this Report and include statements regarding our current intent, belief or expectations with respect to our business and operations, macro and micro economic and market conditions, results of operations and financial condition and performance, capital adequacy and risk management, including, without limitation, future loan loss provisions and financial support to certain borrowers, forecasted economic indicators and performance metric outcomes, indicative drivers, climate- and other sustainability- related statements, commitments, targets, projections and metrics, and other estimated and proxy data.

 

 

Words such as ‘will’, ‘may’, ‘expect’, ‘intend’, ‘seek’, ‘would’, ‘should’, ‘could’, ‘continue’, ‘plan’, ‘estimate’, ‘anticipate’, ‘believe’, ‘probability’, ‘indicative’, ‘risk’, ‘aim’, ‘outlook’, ‘forecast’, ‘assumption’, ‘projection’, ‘target’, ‘goal’, ‘guidance’, ‘objective’, ‘ambition’ or other similar words are used to identify forward-looking statements. These statements reflect our current views on future events and are subject to change, certain known and unknown risks, uncertainties and assumptions and other factors which are, in many instances, beyond our control (and the control of our officers, employees, agents and advisors), and have been made based on management’s current expectations or beliefs concerning future developments and their potential effect upon Westpac.

 

Forward-looking statements may also be made, verbally or in writing, by members of Westpac’s management or Board in connection with this Report. Such statements are subject to the same limitations, uncertainties, assumptions and disclaimers set out in this Report.

 

There can be no assurance that future developments or performance will align with our expectations or that the effect of future developments on us will be those anticipated. Actual results could differ materially from those we expect or which are expressed or implied in forward-looking statements, depending on various factors including, but not limited to, those described in the risk factors in Westpac’s 2024 Risk Factors on Form 6-K filed with the U.S. Securities and Exchange Commission. When relying on forward-looking statements to make decisions with respect to us, investors and others should carefully consider such factors and other uncertainties and events.

 

Except as required by law, we assume no obligation to revise or update any forward-looking statements contained in this Report, whether from new information, future events, conditions or otherwise, after the date of this Report.

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

	WESTPAC BANKING CORPORATION                            (Registrant)
Date: November 5, 2024	By:	/s/ Esther Choi
		Esther Choi
		Tier One Attorney

 

 

Exhibit 1

 

 

 

		Level 18, 275 Kent Street Sydney, NSW, 2000

 

6 November 2024

 

RETIREMENT OF NON-EXECUTIVE DIRECTORS

 

Westpac Banking Corporation (Westpac) today announced the retirement from the Board of Independent Non-executive Directors Dr Nora Scheinkestel and Audette Exel AO.

 

Dr Scheinkestel will retire from the Westpac Board effective Wednesday 6 November 2024. Audette Exel has decided not to stand for re-election and, accordingly, will step down from the Board on Friday 13 December 2024.

 

Westpac Chair Steven Gregg said: “I would like to thank Nora for her contribution to Westpac, including as Chair of the Remuneration Committee. Her leadership has helped the company navigate a challenging period and contributed significantly to Westpac’s turnaround.”

 

“As Chair of the Risk Committee, Audette has successfully seen through the completion of the Customer Outcomes and Risk Excellence (CORE) program, a vital initiative for Westpac. I would like to thank Audette for her work on the company’s significant transformation,” Mr Gregg said.

 

Dr Scheinkestel said: “I’ve been pleased to be part of Westpac’s turnaround over the past three years and will leave knowing the bank is now in a much stronger position as it embarks on its next stage. Having also made good progress on the company’s remuneration structure and approach, I've decided now is the right time to step aside. I know the bank has a great future ahead serving Australians and New Zealanders.”

 

Ms Exel said: I have been proud to have been part of the Westpac Board and to have stewarded risk transformation in my role as Chair of the Risk Committee. Westpac is full of customer-driven, passionate people and it has been a privilege to work with them. It is now time for me to focus on building and growing the Adara Group and Adara Partners, our for-purpose advisory business, both in Australia and globally.”

 

New appointments to the Board will be made in due course.

 

For further information:

 

Hayden Cooper		Justin McCarthy
Group Head of Media Relations		General Manager, Investor Relations
0402 393 619		0422 800 321

 

This document has been authorised for release by Tim Hartin, Company Secretary.

 

 

 

 

 

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