NEW CHAIRMAN FOR BANK OF QUEENSLAND

Written on the 7 June 2013

NEW CHAIRMAN FOR BANK OF QUEENSLAND

ROGER Davis (pictured) is Bank of Queensland’s (ASX: BOQ) next chairman and will take his place following the retirement of Neil Summerson, the company announced today.

The Rhodes Scholar, who has been a director at BOQ for eight years, achieves a long-term goal with his promotion after 32 years in the banking industry.

“I am delighted and honoured to follow Neil as a BOQ Chairman – as a career banker, it has been long been one of my goals to chair a bank,” says Davis.

Davis was previously a managing director at Citigroup where he worked for more than 20 years and more recently was a group managing director at ANZ Bank. He is a consulting director at Rothschild Australia Limited and is a director of AIG Australia, Argo Investments Limited, Ardent Leisure, Aristocrat Leisure and Territory Insurance Office and Trust Ltd.

Summerson’s 16 years at BOQ draws to a close on July 30, having announced intention to step aside at the Annual General Meeting in December. In his time at the bank, it has grown its asset base from $2 billion to $40 billon and increased its market capitalisation by ten times to $3 billion.

“Last year I said I would retire when the bank was delivering on its new strategy. I am confident we have reached that point and the time is right for new board leadership,” says Summerson.

“Like many banks BOQ has had its challenges, particularly since the GFC, but in recent years a new, more diverse management team has been put in place, the Bank’s balance sheet has been successfully restructured and we are making progress in reviewing and renewing our systems and processes."

Davis says the board and management team has worked hard to ensure BOQ is in a position to grow within the competitive Australian banking market.

“The results of those efforts are now beginning to emerge and I look forward to working with my board colleagues, Stuart (Grimshaw, CEO) and his executive team to ensure BOQ continues to offer a genuine and independent alternative to the major banks,” he says.


Latest News

ENTREPRENEUR'S NEW VENTURE SWEET AS 'HONEE'

A MELBOURNE entrepreneur hailing from the food tech scene has launched a new venture to change the face of beauty....

WATER VENTURE TAKES ON THE PLASTIC SCOURGE

DAMIEN Stone has a thirst to build the world's biggest social enterprise in a clean fight against the plastic ...

BUNNINGS BOSS JOHN GILLAM QUITS WESFARMERS

THE man behind Bunnings' home improvement domination has resigned from his role in charge of the retailer.

...

NOVOTEL SALE REFLECTS HOT BUYERS' MARKET

AFTER two decades in the hands of a private syndicate, The Novotel Melbourne Glen Waverley has been sold to the Sy...

Related News

HOW MCDONALD'S AUSTRALIA REDISCOVERED ITS INNOVATIVE SPIRIT

MCDONALD'S is such a ubiquitous part of the Australian landscape today that it is easy to forget how it change...

JB HI-FI IS THE GOOD GUY IN $870 MILLION ACQUISITION

ELECTRONICS giant JB Hi-Fi has formally completed its $870 million acquisition of home appliance chain The Good Gu...

ACCC ACTS AGAINST MERITON'S RIGGED REVIEWS

MERITON Property Services is under fire from Australia's main consumer watchdog, after it allegedly engaged in mi...

ACCC FIRES WARNING SHOT TO IVF PROVIDERS

IVF clinics have been put on notice by consumer watchdog, the Australian Competition and Consumer Commission (ACCC...

Contact us

Email News Update Sign Up Contact Details

Subscribe to our mailing list

* indicates required
Email Format

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter