Maxsted hastens BHP exit in retreat from blue chip boards

Original article by Peter Ker
The Australian Financial Review – Page: 13 & 19 : 15-Jan-20

BHP director Lindsay Maxsted will step down later in 2020, after nine years on the board. He was re-elected at BHP’s annual meeting in late 2019, and gave no indication that he intended to retire. Maxsted has declined to comment on the reasons for his impending exit from the board; however, a major BHP shareholder has indicated that they had expected Maxsted to step down in the next year or so given the money-laundering scandal at Westpac, where he has also stepped down. BHP says the timing of Maxsted’s departure is linked to tenure guidelines which suggest that directors should not serve for more than nine years.

CORPORATES
BHP GROUP LIMITED – ASX BHP, WESTPAC BANKING CORPORATION – ASX WBC

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