Westpac Banking Corporation (ASX:WBC) has denied reports that it is moving to replace its current CEO Gail Kelly.
Earlier today banking newsletter Banking Day reported that the Westpac's chairman, Ted Evans, had issued a mandate to the same executive search firm that recruited Mrs Kelly in 2008.
However Mr Evans has rejected the claims, telling The Australian that the bank is delighted with the work Mrs Kelly is doing, and described the report as absolute nonsense.
The paper also says the Westpac is on the cusp of a possible image makeover with ex-David Jones Ltd (ASX:DJS) marketing manager Damien Eales, poised to join the bank within the next few months.
In the year to 30 September 2010, Westpac Banking lifted its net profit to $6.4 billion.
WBC Price at posting:
$21.89 Sentiment: None Disclosure: Held
