BOI Announces Group CFO's intention to step down

RNS Number : 4068D

Bank of Ireland Group PLC

25 June 2019

 

Bank of Ireland Group plc (the ''Group'')

Bank of Ireland Announces Group Chief Financial Officer's intention to step down

25 June 2019

Bank of Ireland today announces that Mr Andrew Keating has informed the Board of Bank of Ireland Group plc of his intention to step down as Group Chief Financial Officer ("CFO") and Executive Director of Bank of Ireland Group plc and the Governor and Company of the Bank of Ireland (together "Bank of Ireland"). He is taking up a senior finance role in an international organisation outside the financial services sector.

Andrew is expected to leave Bank of Ireland by the end of 2019 and a process to appoint his successor will now commence. In the meantime, Andrew will remain in role for the coming months.

Andrew joined Bank of Ireland in 2004. He was appointed CFO and a member of the Board in 2012.

Bank of Ireland's Group Chief Executive, Francesca McDonagh, said: "Over the past seven years Andrew has demonstrated a strong track record of successful financial leadership. He has built a market leading finance function within the Group and has shown exceptional commitment in his role as CFO. I wish to acknowledge Andrew's strong support to me in my role as Group CEO and wish him every success in the next phase of his career".

Bank of Ireland Chairman, Patrick Kennedy, added "I have worked closely with Andrew over the past seven years in his role as CFO and Board colleague. During that time, Andrew has been a key member of the Board and Group Executive team that saw Bank of Ireland repay fully all State Aid, return the Group to sustainable profitability and resume dividend payments to our shareholders. I wish him the very best for the future."

The announcement is made in accordance with Listing Rule 9.6.11 and contains inside information.

Ends

For further information please contact:

Bank of Ireland

Helen Nolan, Group Secretary                                                                                                   [phone]

Darach O'Leary, Head of Group Investor Relations                                                               [phone]

Damien Garvey , Head of Group External Communications and Public Affairs                [phone]

Forward Looking Statement

This announcement contains forward-looking statements with respect to certain of Bank of Ireland Group plc ('BOIG plc') and its subsidiaries' (collectively the 'Group') plans and its current goals and expectations relating to its future financial condition and performance, the markets in which it operates and its future capital requirements. These forward-looking statements often can be identified by the fact that they do not relate only to historical or current facts. Generally, but not always, words such as 'may,' 'could,' 'should,' 'will,' 'expect,' 'intend,' 'estimate,' 'anticipate,' 'assume,' 'believe,' 'plan,' 'seek,' 'continue,' 'target,' 'goal,' 'would,' or their negative variations or similar expressions identify forward-looking statements, but their absence does not mean that a statement is not forward-looking.

Examples of forward-looking statements include, among others: statements regarding the Group's near term and longer term future  capital requirements and ratios, level of ownership by the Irish Government, loan to deposit ratios, expected impairment losses, the level of the Group's assets, the Group's financial position, future income, business strategy, projected costs, margins, future payment of dividends, the implementation of changes in respect of certain of the Group's pension schemes, estimates of capital expenditures, discussions with Irish, United Kingdom, European and other regulators and plans and objectives for future operations. Such forward-looking statements are inherently subject to risks and uncertainties, and hence actual results may differ materially from those expressed or implied by such forward-looking statements.

Nothing in this announcement should be considered to be a forecast of future profitability, dividends or financial position of the Group and none of the information in this announcement is or is intended to be a profit forecast, dividend forecast or profit estimate. Any forward-looking statement speaks only as at the date it is made. The Group does not undertake to release publicly any revision to these forward-looking statements to reflect events, circumstances or unanticipated events occurring after the date hereof.

 

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