According to Mining News Pro - Maxsted will be retiring from his role at or before BHP’s annual general meeting.

Maxsted, who is also chairman of Westpac and Transurban Group, will remain a member of BHP’s risk and audit committee until he retires from the board.

BHP director Terry Bowen will join Maxsted on the board of Transurban Group starting February 1 following his appointment.

The two will also crossover on BHP’s risk and audit committee, to which Bowen has been appointed chair, starting from May 1.

“We apply a nine-year tenure guideline as part of director succession planning and therefore, as planned, Lindsay Maxsted will not stand for re-election,” BHP stated in a media release.

“As a consequence, there will be a limited period of overlap between Terry Bowen and Lindsay Maxsted on the boards of BHP and Transurban.”

Bowen is currently a managing partner and head of the operations group at BGH Capital but will reduce his responsibilities in this role as he commences the new role with Transurban.

He will remain a part of BGH Capital, transitioning into a part-time role as partner and chair of the operations group.