The guard continues to change in some of our regional financial groups.
Bendigo and Adelaide Bank has appointed Jacqueline Hey to be its next chair, to replace long-serving chair Robert Johanson.
In fact, Bendigo and Adelaide is the third regional financial group has revealed a change at the top in four days.
On Monday Suncorp revealed that CEO Michael Cameron was leaving and on Wednesday Bank of Queensland (BOQ) announced that chair Roger Davis was stepping down and would be replaced by Patrick Alloway.
Bank of Queensland is also searching for a new CEO to replace Jon Sutton who stepped down late last year because of ill health.
Bendigo and Adelaide Bank changed CEO’s a year ago when Marnie Baker replaced the longtime head, Mike Hurst.
Ms. Hey, a former telecommunications executive, has sat on Bendigo’s board since 2011 and is also a non-executive director at Qantas, AGL Energy, and Cricket Australia.
Mr. Johanson is stepping down after 13 years as the chair of the regional lender, and 31 years as a director.
“I am delighted by the Board’s decision to appoint Jacquie as the next Chair of the Bank. She has great business experience and now with deep knowledge of the business and effective engagement with our key stakeholders.
“This will ensure we continue to deliver better outcomes for staff, customers, partners, and shareholders,” Mr. Johanson said.
The shares rose 0.9% to $11.14 which was a solid outcome n a day when the wider market sold off and ended down 0.7%.
