Bank of Queensland chief George Frazis exits with immediate effect

·

Bank of Queensland (BOQ) chief executive George Frazis is leaving the bank with immediate effect, The Sydney Morning Herald has reported.

The bank confirmed Frazis’ exit on Monday morning and said it would launch a domestic and global search to replace him.

For now, BOQ Chairman Patrick Allaway will take on new responsibilities as Executive Chairman until a new CEO is found.

A statement from Allaway said the board had come to the view that “different leadership” was required, but it did not provide a more detailed explanation for the sudden departure of Frazis after only three years as CEO.

“George Frazis joined BOQ in September 2019 and has overseen a return to growth in all key channels across the bank, the successful acquisition and integration of ME Bank, as well as achieving strong progress in the bank’s technology transformation,” Allaway said in his statement.

“However, the board has formed a view that different leadership is now required to ensure BOQ can continue to build a stronger and more resilient bank through future cycles.”

BOQ said Frazis would receive his entitlements in accordance with his contract of employment. 

Source: The Sydney Morning Herald.

Advertisement

Share:

KEEP UP TO DATE WITH TGH

By subscribing you accept our Terms of Service and Privacy Policy.

Advertisement

Latest News

From crisis to compassion: Timos Roussos and his family’s mercy mission in war-torn Cyprus

When Turkish troops landed on Cyprus on 20 July 1974, six-year-old Timos Roussos was sitting on the floor of his family’s home in Lemesos.

A granddaughter returns: Georgia Georgiou retraces her yiayia’s occupied village in Cyprus

When Georgia Georgiou handed over her Cypriot ID at the border checkpoint to cross into occupied northern Cyprus, she felt an ache.

‘You never get over it’: A childhood shattered by the Turkish invasion of Cyprus

On a warm July morning in 1974, 10-year-old Anastasia Di Loreto (née Karatzia) was jolted awake by the sound of bombs falling on Kyrenia.

Cyprus: The paradox of tolerance and impunity for Turkey

The lack of a unified, systematic and practical strategy on the part of Greece has led the Cyprus crisis into national disarray.

Lost homes and lingering hope: Greek-Cypriots reflect on Turkish invasion and its aftermath

From hidden stories to haunting memories, two Greek-Cypriot men share what it means to carry the burden of Cyprus’ past.

You May Also Like

“Woman Who Changed Her Brain” impressed with Oakleigh Grammar’s ‘Arrowsmith Program’ for students with learning disabilities

Barbara Arrowsmith-Young, also known as “the woman who changed her brain”, is the founder of the ‘Arrowsmith Program’, which is being integrated into schools to assist children...

Greece completes historic voter roll cleanup

Greece's Interior Ministry has successfully completed a historic cleanup of the country's electoral rolls, removing 441,042 names of voters.

Greece pledges to legalise same-sex marriage despite opposition from Greek Orthodox church

Greece's government announced on Thursday that it will follow through on a pledge to legalise same-sex marriage, defying the Orthodox Church.