NZX Limited announced that Simon Power QSO intends to step down from the Board at company's Annual Meeting to be held in May 2015. Simon's decision was taken in consultation with Westpac and the company's Board and reflects an assessment that there may be potential conflicts of interest between Simon's role as General Manager of Westpac's private wealth management business (with day-to-day responsibility for that business) and his role as a Director of the company as company's strategy regarding its passive funds management business has evolved into a core growth strategy.