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BRIEF-IOOF Holdings Appoints Acting Chairman And Acting Chief Executive Officer

Published 10/12/2018, 09:09 am
Updated 10/12/2018, 09:10 am
© Reuters.  BRIEF-IOOF Holdings Appoints Acting Chairman And Acting Chief Executive Officer

© Reuters. BRIEF-IOOF Holdings Appoints Acting Chairman And Acting Chief Executive Officer

Dec 10 (Reuters) - Ioof Holdings Ltd IFL.AX :

* IOOF APPOINTS ACTING CHAIRMAN AND ACTING CHIEF EXECUTIVE OFFICER

* RENATO MOTA, CURRENTLY GROUP GENERAL MANAGER - WEALTH MANAGEMENT, HAS BEEN APPOINTED ACTING CHIEF EXECUTIVE OFFICER

* MANAGING DIRECTOR, CHRISTOPHER KELAHER AND CHAIRMAN, GEORGE VENARDOS, AGREED TO STEP ASIDE FROM RESPECTIVE POSITIONS

* CFO DAVID COULTER WILL REMAIN IN HIS POSITION

* ALLAN GRIFFITHS, A CURRENT NON-EXECUTIVE DIRECTOR OF IFL, IS ACTING CHAIRMAN

* KELAHER AND VENARDOS WILL BE ON LEAVE WHILE THEY FOCUS ON DEFENDING ACTIONS BROUGHT AGAINST THEM BY APRA

* HAS BEEN WORKING WITH APRA ON A 'MANAGED ACTION PLAN' (MAP) TO FORMALISE VARIOUS INITIATIVES

* "WE REMAIN COMMITTED TO ANZ TRANSACTION AND WE ARE WORKING COOPERATIVELY WITH ANZ AS THEY CONSIDER THEIR POSITION."

* CFO DAVID COULTER TO HAVE NO RESPONSIBILITIES RELATING TO MANAGEMENT OF IOOF TRUSTEE COS, WILL HAVE NO ENGAGEMENT WITH APRA DURING PERIOD

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