BOQ Announces Resignation of Managing Director & CEO and Appointment of Interim CEO
Wednesday, 5 December 2018
Bank of Queensland Limited (ASX: BOQ) today announces that after six years with BOQ, Jon Sutton, Managing Director & CEO has resigned to focus on his long-term health following a heart operation earlier this year.
Anthony Rose, currently BOQ’s Chief Operating Officer, will be interim CEO while a national and international executive search is completed. Anthony has been with BOQ for six years and has broad experience across BOQ and the broader banking sector.
The Chairman of BOQ Roger Davis said “We understand and respect Jon’s decision to resign now, so as to focus on his health and be in great shape to return to corporate life when it makes sense for Jon and his family. We thank Jon for his loyalty, dedication and significant contribution since he joined BOQ as our Chief Operating Officer in 2012 before stepping up into the role of Managing Director & CEO in 2015 and wish him all best for the future.”
“We are also glad to have someone of the calibre of Anthony to assume the role of Interim CEO whilst we conduct the search for Jon’s successor. Given Anthony’s experience and knowledge of the business, we have no doubt that it will be business as usual during the search period.”
Jon Sutton said “After consulting with my family I’ve made the decision to resign to focus on my long-term health. In February I underwent emergency surgery for a triple heart bypass. In the interest of stability, I felt it was important for me to return to lead the business throughout 2018, but the time is now right to look after my health and BOQ has been understanding of that.”
“Expanding and enhancing banking services for Australian businesses and families has been my life for the past 25 years and I look forward to further engagement with the sector in the future. I wish BOQ and everyone who works in and around our business, our branch owners and customers every success for the future.”
Details of Mr Rose’s biography and the remuneration arrangements for the Managing Director & CEO and the Interim CEO are set out in the attachment to this announcement.