Bank CEO and MD resigns

Bank of Queensland today announced that Jon Sutton has resigned to focus on his long-term health, following a heart operation earlier this year.

Mr Sutton had been with the bank for the past six years.

Anthony Rose, who is currently BOQ’s chief operating officer, will be interim CEO while a “national and international executive search is completed”.

Mr Rose has also been with BOQ for six years and has more than 25 years of experience in the financial services industry.

Mr Sutton commented: “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.”

He continued: “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.”

Speaking of the change, BOQ chairman Roger Davis commented: “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 and CEO in 2015 and wish him all best for the future.”

Mr Davis continued: “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.”

[Related: New AMP CEO commences role]