Westpac’s chief financial officer Michael Rowland has confirmed his intention to retire from the role next year.
Rowland has been with Westpac since 2020, having served in its executive team for more than four years.
In a statement on the ASX on Tuesday, chief executive Anthony Miller thanked Rowland for his time at the big four bank.
“Michael has played an important role in the financial management of Westpac since the disruption of COVID-19 and has been instrumental in establishing Westpac’s strong position,” Miller said.
“During his tenure, he’s seen the company through a significant business transformation, maintained a robust capital position and overseen consistent, sustainable returns to shareholders.
“Michael is a team player known for his characteristic mix of dedication, attention to detail and sense of humour.
“I thank Michael for his service to Westpac and wish him all the very best as he steps
into the next chapter of his career,” the CEO concluded.
Taking to LinkedIn, Rowland confirmed that he will stay in the role until a new CFO is appointed and “settled in”.
"I will be around for a little longer and look forward to shepherding Westpac through its next exciting era.”
CEO’s first day on the job
Rowlands announced departure comes the same week that Miller officially stepped into the role as chief executive, with his appointment having been first announced in September.
Now, Miller has officially succeeded Peter King, who has retired after 30 years at the group, including a five-year stint at its helm.
The new CEO confirmed that he spent the first day on the job with some of Westpac’s financial crime specialists, based in Parramatta, in addition to visiting a local branch.
But with the bank’s CFO position set to be vacant, Westpac now has several positions that need filling within its executive team.
Miller's own promotion saw him move out from chief executive, business and wealth. Since then, Peter Hubert has been appointed to the role in an interim capacity.
Meanwhile, the bank last month confirmed that group executive for human resources, Christine Parker, would also be retiring after 17 years with the company.
