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Westpac Banking Corp loses CIO to Woolworths Limited

Westpac Banking Corp (ASX: WBC) will conduct an internal and external search for a new chief-information-officer (CIO) after technology chief Clive Whincup was poached by supermarket giant Woolworths Limited (ASX: WOW), who had been seeking a replacement for its previous CIO Dan Beecham.

Mr. Whincup made the move after he was shifted from the CIO position at the bank just before Christmas, as Westpac appeared ready to implement changes to its senior tech ranks. While he was moved into a much broader innovation role, he will now switch over to the supermarket giant to generate plans to implement changes to the corporation’s technology systems.

Woolworths believes that his experience of retail in a banking context, as well as his leadership of large-scale IT programs, will prove to be great value to the company “in shaping the next phase of development of our technology journey.”

In early trading on Thursday, Westpac has gained 1.1% while Woolworths has gained 0.4%, with the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 28.6 points.

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Motley Fool contributor Ryan Newman does not own shares in any of the companies mentioned.

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