World

Sir James Foots, chairman of Westpac Banking Corp., plans to retire after the Australian bank’s annual meeting in January. He will be succeeded by Sir Eric Neal, 64, who is deputy chairman. Neal has been a director of Westpac, which has a Los Angeles office, since 1985, and also is a director of other Australian firms, including Boral Ltd. Group, Amatil Australia Ltd. Atlas Copco (Australia) and Broken Hill Proprietary Ltd.