Bank of Queensland chairman Roger Davis will step down from his position in October, the lender has announced.
BOQ said in a statement that Patrick Allaway would replace the retiring Mr Davis, who had been chair since May 2013.
Mr Allaway, also currently a non-executive director of Nine Entertainment Co and Domain Limited, will take over when BOQ releases its full-year results.
Mr Alalway joined the BOQ board on May 1 and has previously worked with Citibank while also serving as managing director of Swiss Bank Corporation's capital markets and treasury.
Meanwhile, Mr Davis said the search is well advanced for a managing director and CEO to replace Jon Sutton following the latter's resignation in December due to health reasons.
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"In the meantime we are continuing to deliver on our foundational investments and a strategic update to the market will be provided later in the year," Mr Davis said in a release.
The regional lender reported an eight per cent fall in first-half cash earnings to $167 million in April, and its $9.24 share price is more than 30 per cent down from a three-and-a-half year high of $13.41 in October 2017.
