Westpac Banking Corporation has confirmed that Mr. Lindsay Maxsted will retire from the Board effective 31 March 2020. Following Mr. Maxsted's retirement, Mr. John McFarlane will become Chairman of the Westpac Board and the Board Nominations Committee, effective 1 April 2020, representing the start of Westpac's Second Half 2020. Mr. Maxsted previously announced that he would bring forward his retirement into the First Half of 2020 and Westpac subsequently announced on 23 January 2020 the appointment of Mr. McFarlane as a Non-executive Director and Chairman-Elect. Mr. McFarlane joined the Board on 17 February 2020 and has worked closely with Mr. Maxsted, the Board and with senior management to ensure an orderly transition of the Chair. Westpac has also announced that Ms. Anita Fung has decided to retire from the Board, also effective 31 March 2020. Ms. Fung joined the Board and Westpac's Asia Advisory Board in October 2018 and during her tenure was a member of the Board Risk & Compliance Committee. In light of Ms Fung's expectation that her commitments in Asia will increase in 2020, Ms Fung has chosen to retire from the Board. She will, however, retain her role as a member of the Asia Advisory Board.