Chris Ryan pushed from Perpetual and succeeded by Geoff Lloyd
Perpetual has a new chief executive, with former St George executive Geoff Lloyd stepping in to replace Chris Ryan. The company cited differences between Ryan and the Board.
The company cited differences between Ryan and the Board.
The Perpetual board announced the change to the Australian Securities Exchange today, saying that Ryan had decided to step down.
Lloyd has been group executive Private Wealth and Retail Distribution since joining Perpetual 18 months ago and was widely regarded as a future chief executive of the company.
Commenting on the appointment, the board said it believed Lloyd was ideally placed to step into the CEO and managing director role, having been closely involved in Perpetual's review of its overall business strategy over the past 12 months.
The outgoing Chris Ryan joined Perpetual in February last year.
Commenting on Ryan's departure, Perpetual chairman Peter Scott said that while the former CEO had executed some important business improvements, "it had become clear that there were differences between Mr Ryan and the Board around emphasis and execution of strategy for the immediate and longer-term".
"Over the weekend we agreed to disagree with Chris Ryan on these important issues and that he would leave Perpetual as a result," Scott said.
AUTHOR
Mike Taylor
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