Westpac delighted with CEO, says Evans

Westpac replied yesterday morning, via the media, on our report in yesterday's newsletter about the board's restlessness concerning chief executive Gail Kelly and its search for a new CEO.

Westpac spokesperson Jane Counsel told Business Spectator there were no facts to support the allegations, which she described as "completely false".

And Westpac chair Ted Evans told The Australian he rejected outright reports that he had hired Egon Zehnder to find a replacement for Kelly.

Yesterday morning Evans said: "We are delighted with the work Gail is doing and the report is absolute nonsense."

He described the report as "extraordinary" and said there was no truth in it.

In the Financial Review today Evans said: "I was astounded when I heard it. It is complete nonsense. I can't even think why anyone would head in that direction. She has been doing such an outstanding job."