Westpac (ASX: WBC) says its current Audit Committee Chairman, Lindsay Maxsted will succeed Ted Evans as Chairman when he retires following the 2011 Annual General Meeting on 14 December 2011.

Mr. Evans said "With the success of the St.George merger now assured, and the
Group performing very strongly under our talented and stable management team, I judged the time right to announce my retirement.

He added “Lindsay is an enormously experienced and capable director, and I know I will leave the chair of this great company in the very best of hands".

Mr Maxsted said "Ted's wisdom and guidance as Chairman have been invaluable as Westpac successfully navigated the global financial crisis and the worst of its aftermath, while at the same time bedding down the biggest financial services merger in this country's history.

“It has been a privilege to serve under Ted's leadership and I am acutely aware that he leaves very large shoes to fill."

Mr. Evans joined Westpac's Board in 2001 and became Chairman in 2007. Mr. Maxsted joined the Board as a Director and Chairman of the Audit Committee in 2008.