Westpac’s chief executive officer Gail Kelly is more powerful than the Queen, according to a new report.
In the latest edition of Forbes Magazine, Ms Kelly was named the eighth most powerful woman in the world – pipping Beyonce Knowles in ninth place and the Queen in 41st.
Ms Kelly, 54, is seen as an exception in Australian boardrooms, where women make up just over eight per cent of directors in ASX200-listed firms.
When she took over as chief executive of Westpac in 2008, Ms Kelly was the first Australian woman to lead a top-four bank and the first female chief executive of a top 10 Australian company.
Only one other Australian made the magazine’s Top 100 most powerful women list – Prime Minister Julia Gillard, who claimed 58th position.
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