Bendigo and Adelaide Bank will see its chairman retire after 13 years in the role, having selected his replacement to start later in the year.
Robert Johanson will retire from the board after 31 years as a director, being set to depart the bank at its annual general meeting on 29 October.
Jacqueline Hey will be taking over. She has been with the company’s board since 2011.
She is also currently a non-executive director of Qantas, AGL and Cricket Australia.
Mr Johanson’s resignation is the latest in a string of departures from the smaller banks this week: Bank of Queensland’s chairman Roger Davis retired on Wednesday following Suncorp’s chief executive Michael Cameron stepping down on Monday.
On Ms Hey, Mr Johanson commented: “She has great business experience and now with deep knowledge of the business and effective engagement with our key stakeholders.
“This will ensure we continue to deliver better outcomes for staff, customers, partners and shareholders.”
Prior to joining the board, Ms Hey was chief executive of Ericsson in the UK and Australia.
“I am honoured to be appointed by the board as Bendigo and Adelaide Bank’s new chair and am excited by the opportunity to continue to drive our competitive market position and prosperity for our customers, shareholders and their communities,” Ms Hey said.
“I look forward to working with everybody connected with Bendigo and Adelaide Bank as we strive to be Australia’s bank of choice.”
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