Dawson joined the Westpac board as a director ten years ago, and was made chair in February 2015.
“I’m proud to have worked with a team of directors and senior management focused on delivering great financial outcomes for our customers and also contributing to the well-being of the community through our approach to financial literacy, diversity and sustainability," Dawson said.
Her departure follows the recent retirement of chief executive David McLean. Dawson acknowledged the retired boss's support.
Greenwood joined Westpac as an independent non-executive director in April 2019 and chairs the board risk and compliance committee. She is a former partner at Russell McVeagh, and also spent more than 10 years on the legal firm’s board.
She also holds director roles at Fisher & Paykel Healthcare Corporation, Spark New Zealand, A2 Milk, and Vulcan Steel.