ASB has announced Chief Executive Charles Pink has resigned for 'personal reasons' after less than two years in the job and will be replaced by acting CEO Ian Park, who is currently head of ASB's retail banking operation.
ASB announced Pink's appointment in September 2008 to replace outgoing CEO Hugh Burrett, who had the top job for 7 years in the wake of Ralph Norris, who is now the Chief Executive of ASB's parent Commonwealth Bank of Australia.
The former British banker Pink came to ASB from the Barbados-based FirstCaribbean International Bank in January 2009.
He had previously worked for Barclays for 18 years.
"Chief Executive of ASB, Charles Pink, has resigned for personal reasons, and will be leaving the bank following a scheduled board meeting on November 2," ASB said.
Park would take on the role until a permanent replacement is announced, ASB said.
“The board of ASB is sad to be losing a Chief Executive of the calibre of Charles,” said Chairman Gary Judd.
“Charles has provided the Bank with outstanding leadership over the past two years, and his legacy is a clear strategic direction, a strong leadership team and soundly performing Bank.” Judd said.
Pink had advised the board of his decision to resign in early September, and had agreed to its request to delay an announcement while it considered the steps it wished to take with respect to appointment of a replacement.
Pink presided over a split in the bank's structure into a 'production' arm and a 'distribution' arm and the recruitment of several overseas based bankers.
Here's more detail on those structural changes in this interview interest.co.nz did with Pink in November last year.
We welcome your comments below. If you are not already registered, please register to comment.
Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.