BoQ’s George Frazis out the door with $1m payout

Bank of Queensland’s George Frazis is in line for a $1.1 million payout after suddenly departing the regional lender as its star chief executive after aThe payout comes on top of Mr Frazis already having earned almost $4.6 million in the top job that he started only three years ago, according to accounts reviewed byBoQ’s outgoing chief executive George Frazis.

But his time in the top role was also marred by serious concerns culminating in Mr Allaway taking theThat included Mr Allaway saying he was “disappointed” that the former head of business banking, Peter Sarantzouklis, was hired without Mr Frazis telling the chairman he was godfather to Mr Sarantzouklis’ child.

Still, Mr Frazis had subsequently said that the board “has really backed me and the management team”.BoQ on Monday only said that Mr Frazis would “receive his entitlements in accordance with the terms of his contact of employment”. The bank’s accounts detail that the chief executive is entitled to up to nine months’ base pay in lieu of notice. Mr Frazis’s pay was $1.438 million last year, indicating his payout would be almost $1.079 million.

Parochial bank destined for mediocrity, at best.

Australia Latest News, Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

EML chairman booted, shares fly on hopes a buyer will be backEML investors finally had a reason to celebrate as chairman Peter Martin’s re-election was voted down at a fiery AGM. But will his departure spark a new round of M&A action that shareholders blamed him for foiling?
Source: FinancialReview - 🏆 2. / 90 Read more »

Ex-Socceroo makes history with French Ligue 1 gigSocceroo Marco Tilio has paid tribute to Patrick Kisnorbo’s tough-love approach for helping him achieve his World Cup dream as the former Melbourne City boss prepares to make history as the first Australian to coach in one of Europe’s top five leagues.
Source: smh - 🏆 6. / 80 Read more »

Pesutto to run for Liberal leadership as new MPs ‘key’ to renewalMichael O’Brien has told colleagues he won’t run for the Liberal leadership, paving the way for John Pesutto to take the reins should he win in Hawthorn.
Source: FinancialReview - 🏆 2. / 90 Read more »

ASX LIVE: Australian shares to slip to start the week; China COVID unrest hits Aussie dollarAustralian shares to open 0.1pc lower; George Frazis leaves BoQ; Brambles’ CHEP to combine with Loscam China; BWX delays audited results; iron ore nears $US100. Follow updates here.
Source: FinancialReview - 🏆 2. / 90 Read more »

University of Idaho killings: police receive over 260 digital submissionsIdaho governor also directs up to $1m in state emergency funds for investigation after four students killed
Source: GuardianAus - 🏆 1. / 98 Read more »

Labor rejects Greens deal on $1.1m fines for law-breaking bankersTreasurer Jim Chalmers says Labor’s aborted attempt to levy fines on law-breaking executives has not damaged Labor’s relationship with business.
Source: FinancialReview - 🏆 2. / 90 Read more »