Westpac appoints Chris Lynch to the Westpac Board

Source: IBS Intelligence 2020-08-18

Australia’s Westpac has announced today the appointment of Christopher (Chris) Lynch to the Westpac Board effective September 1, 2020. Lynch’s last executive position was that of the CFO of Rio Tinto, based in London. Priorly, he was CEO of Transurban. He has held a number of senior executive positions at BHP, including as Group President, Carbon Steel Materials and CFO. Before BHP, Lynch worked at Alcoa, both in Australia and internationally.

Westpac Chairman, John McFarlane enthused, “We are delighted to welcome Chris to the Board as we continue the process of Board and Executive renewal. Chris will bring new insights to the Board with his senior domestic and international experience.”

Lynch will be an independent Non-executive Director and will become a member of the Board Audit Committee and Board Risk Committee upon his appointment.

Lynch expressed, “It is an honour to join the Board of Australia’s oldest company. A robust banking sector is essential for the Australian and Global economy. I look forward to working with John and the Board.”

Lynch holds a Master of Business Administration and a Bachelor of Commerce, both from Deakin University, and is a Fellow of CPA Australia.

Earlier this month, Westpac Group announced that it would proactively contact merchant customers to activate Merchant Choice Routing (MCR) – also called least cost routing – to whom the group thinks will benefit from the switch based on their current usage. MCR has been available since April 2019 as an opt-in for merchants operating on Westpac owned terminals. The group has mentioned that it has been complex for merchants to determine the potential benefits of it and additionally, it does not always result in a lower cost of payment acceptance.

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Westpac

United States

Westpac

Australia

Westpac appoints Chris Lynch to the Westpac Board

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