News: Westfield board gets new look

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Westfield Group’s (ASX:WDC) board will be given a makeover, with directors Stephen Johns and Fred Hilmer stepping down at the company’s annual general meeting in May.

 

Mr Johns, 65, has been involved with the shopping centre developer for more than 40 years, including 27 years as a board member.

 

Business and academic figure Professor Hilmer has been on Westfield's board since 1991 and is the current vice chancellor at the University of NSW.

 

Westfield chairman Frank Lowy says the two have served the group through a phase of continued growth and been instrumental in its success over a long period.

 

Former PricewaterhouseCoopers chief executive Mark Johnson will stand for election to the board at the AGM on May 29.

 

Wesfield reported a net profit of $1.76 billion for its 2012 financial year.