More changes at the top of a Queensland financial institution.
Earlier this week it was the surprise departure of Michael Cameron as CEO of Suncorp, which owns the Metway regional bank and one of the country’s major insurers, AAMI, and other brands.
On Wednesday its smaller Brisbane-based rival, Bank of Queensland revealing that chairman Roger Davis will step down from his position in October.
BOQ said in a statement that Patrick Allaway would replace the retiring Mr Davis, who had been chair since May 2013.
Mr. Allaway, also currently a non-executive director of Nine Entertainment and its 60% owned property website subsidiary Domain Limited, will take over when BOQ releases its full-year results.
He only joined the BOQ board on May 1.
BOQ’s CEO Jon Sutton resigned last December because of ill health.
Mr. Davis said yesterday bank was well advanced in its search for a replacement for Mr. Sutton.
In contrast, Suncorp has just started its search for a replacement for Mr. Cameron.
Bank of Queensland reported an 8% fall in first-half cash earnings to $167 million.
Bank of Queensland shares ended up 0.7% at $9.31.
