After serving on the Westfield Board for 27 years and 21 years respectively, Stephen Johns and Professor Fred Hilmer will not seek re-election at the company’s AGM to be held at the end of May.

Chairman Frank Lowy paid tribute to the outstanding service provided by both directors of the group.

“Both Stephen and Fred have been key figures on the Westfield Board for more than 20 years. They have served the group through a phase of continued growth and have been instrumental in the success of the group over a long period. Their experience, wisdom and collegiate approach be greatly missed,” he said.

Following the retirement of the two, the following changes will take place:
•    Mark G Johnson, former the CEO of PricewaterhousCoopers, will stand for the election at the AGM;
•    The Audit and Compliance Committee and the Board Risk Management Committee will be merged to form the Audit & Risk Committee;
•    Brian Schwartz will be appointed as Chairman of Audit & Risk Committee
•    Mark R Johnson will be appointed as Chairman of the Remuneration Committee, as well as a member of the Nomination Committee