Westpac on a productivity drive
Westpac appears to have upgraded "productivity" as a business goal and downgraded strategy in changes to senior management announced yesterday.Peter Hanlon, at present group executive for human resources, and with a job title that includes "transformation" in the title, "will have responsibility for accelerating the implementation of productivity programs," the bank wrote in a media release.Hanlon, who ran the retail and business bank until early 2010, gets to keep the word transformation in his job title.Christine Parker, who is at present group general manager of human resources, will join the management committee with the job title of group executive human resources and corporate affairs. Jon Nicholson, the chief strategy officer, will leave the bank in December after five years. For the time being "the strategy function will report to the chief financial officer, Phil Coffey," the bank wrote.