The Bank of Queensland (BOQ) has named acting chief executive Jon Sutton as the bank's new CEO.
In a statement issued via the ASX, BOQ said Mr Sutton will permanently take on the role, as well as the role of managing director effective immediately.
Mr Sutton assumed an acting chief executive role in August 2014 following the resignation of former chief executive Stuart Grimshaw.
BOQ chairman Roger Davis said after a long search the board believed Mr Sutton was the best person to continue the “successful implementation” of BOQ’s strategy.
“We are at a crucial point in a major transformation program and growth agenda and we are confident that strong momentum will be maintained under Mr Sutton’s leadership,” Mr Davis said.
“He has overseen many of the bank’s key projects including digitisation of its back office and, as acting CEO, has done an excellent job in steering BOQ’s performance and communicating our results to investors over the last few months,” he said.
Joining BOQ in 2012 Mr Sutton previously held the position of chief operating officer for the bank.
Prior to working for BOQ, Mr Sutton was the managing director of Bankwest and also held a number of senior positions with the Commonwealth Bank, including executive general manager of agribusiness.