BOQ CEO resigns for health reasons

Following a heart operation earlier this year, Bank of Queensland (ASX: BOQ) CEO Jon Sutton (pictured) has resigned from the position to focus on his long-term health.

The bank's current chief operating officer Anthony Rose will take on the interim CEO role while national and international executive search takes place.

Like Sutton, Rose has been with BOQ for six years and has "broad experience" with the group as well as the banking sector in general.

"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," says BOQ chairman Roger Davis.

"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.

Davis said the group was also pleased to have someone of Rose's calibre to be interim CEO.

"Given Anthony's experience and knowledge of the business, we have no doubt that it will be business as usual during the search period," Davis says.

Sutton has acknowledged BOQ's support throughout the process with his health challenges.

"After consulting with my family I've made the decision to resign to focus on my longterm health," he says.

"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."

Business News Australia