Bank of Queensland boss Stuart Grimshaw has resigned to take on a new opportunity overseas.
The unexpected resignation of Bank of Queensland chief executive Stuart Grimshaw has dented the company’s share price.
Mr Grimshaw will leave the bank at the end of August after less than three years in the job, to be temporarily replaced by operations chief Jon Sutton while a search for a permanent appointment is conducted.
Mr Grimshaw is leaving to pursue a non-banking opportunity overseas, believed to be with a financial services firm in the United States.
“While it was a very difficult decision to leave BOQ, I was offered a fantastic opportunity that takes my career in a new direction,” he said.
“I am confident that I leave the bank in great shape and in very good hands.”
BOQ shares dropped 23 cents, or 1.9 per cent, to $11.98.
Before joining BOQ, Mr Grimshaw held several senior roles at Commonwealth Bank, and worked for 10 years at National Australia Bank Limited, including a stint as the head of its UK business.
He began his banking career at ANZ in 1983.