Bank of Ireland Group plc
Directorate Change
26 April 2022
Bank of Ireland today announces that Francesca McDonagh has informed the Board of Bank of Ireland Group plc of her intention to step down as Group Chief Executive Officer and Executive Director of Bank of Ireland Group plc and the Governor and Company of the Bank of Ireland (together "Bank of Ireland").
Francesca is expected to leave Bank of Ireland in September 2022. A process to appoint her successor will now commence.
Bank of Ireland Chairman, Patrick Kennedy, stated: "Francesca has been an exceptional chief executive of Bank of Ireland. Since taking up the position in 2017, she has driven - with ambition and commitment - a clear strategic focus on transformation, service improvement, and business growth. Along with agreeing two transformative acquisitions, she has delivered a more efficient, digitally-enabled, customer-focussed and profitable bank. All of this strongly enhances the Group's long-term sustainability.
"The impact of Francesca's many achievements will live long beyond her time at the Bank. On behalf of the Board, I would like to wish her well for the future."
Francesca McDonagh added "While I will leave Bank of Ireland with a heavy heart, I am proud of all that we have achieved. Five years ago, we set out to transform the Bank's culture, systems and business model. The benefits of this transformation have never been clearer than over the past two years as we navigated the pandemic while also agreeing two significant acquisitions. In addition, the strong progress we have made has facilitated the Irish Government in selling down its shareholding and has further reset the State's relationship with the Bank."
The announcement is made in accordance with Listing Rule 6.1.64 of Euronext Dublin's Listing Rules and Rule 9.6.11 of the London Stock Exchange Listing Rules and contains inside information.
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For further information please contact the following at Bank of Ireland:
Sarah McLaughlin, Group Secretary +353 (0)1 250 8900 ext. 48577
Darach O'Leary, Head of Group Investor Relations +353 (0)1 250 8900 ext. 44711
Damien Garvey, Head of Group External Communications +353 (0)86 8314435
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