Westpac directors Peter Marriott and Nerida Caesar had votes against their re-election at Westpac's AGM in Sydney on Thursday.Credit:Peter Braig
There was also a 24.9 per cent protest vote against the re-election of director Nerida Caesar,with a 74.5 per cent vote in her favour.
Earlier,chairman Mr Maxsted apologised over themoney-laundering scandal and admitted the lender had more to do to enhance its culture and improve its systems to fight financial crime.
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He said investors had expressed their"shock,disappointment and concern"to him since the scandal broke last month,and said every part of the company had been shaken by recent events.
"In particular,as a board and as individuals,we are devastated that anyone may have been exposed to the risk of harm as a result of a failing by Westpac. For this,we are truly sorry,"he said in his opening address.
However,many of the several hundred shareholders in the room appeared unconvinced that Mr Maxsted - who is stepping down next year - had shown enough accountability.
Some called out"just go"to Mr Maxsted in response to questions over the board's accountability,and one investor's call for the whole board to be removed received a round of applause.
Marathon AGM:After close to three hours,Westpac's annual meeting had not moved past the first agenda item.Credit:Peter Braig
Interim chief executive Peter King outlined steps the bank was taking in response to the AUSTRAC scandal,while saying 2019 had been a"disappointing"one for the bank in financial terms.
"I don’t underestimate the size of the task ahead. I’m grateful going into this knowing I have the 35,000 people of Westpac behind me,"Mr King said.
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Facing a barrage of questions,Mr Maxsted defended the bank’s disclosure ahead of a $2.5 billion capital raising last month,and he responded to media reports about former Westpac manager Amanda Wood,saying there was “no question” this was a case of a whistleblower being treated poorly.