Non-major officially announces new CEO

by Julia Corderoy12 Jan 2015
Bank of Queensland has announced that its acting chief executive, Jon Sutton has officially been appointed as the non-majors managing director and chief executive officer. Australian Broker reported last week that Sutton was expected to take on the role.

The bank’s chairman, Roger Davis said that Sutton – who has been the acting CEO for four months after Stuart Grimshaw departed the role – was the best person to continue the successful implementation of BOQ’s strategy. 

“Jon has played a key part in BOQ’s turnaround, as well as the development and implementation of our four pillar strategy,” he said.

“We are at a crucial point in our major transformation program and growth agenda and we are confident that strong momentum will be maintained under Jon’s leadership.”

Sutton, who was the bank’s chief operating officer prior to being acting chief executive, says he is proud to have been appointed as BOQ’s official CEO.

“BOQ has achieved much over the last two years but we must continue to maintain the momentum we have built and continue to successfully deliver our strategy and customer-focussed approach,” he said.

“I am proud to have been appointed CEO and I will be focused on delivering the best outcomes for customers, staff and shareholders.”

Prior to joining BOQ in July 2012, Sutton was managing director of another non-major, Bankwest. He also held a number of senior positions at Commonwealth Bank, including executive general manager of agribusiness.