Kiwibank chief executive resigns

The Chief Executive of Kiwibank, Paul Brock, today announced he will be resigning after seven years leading the company. He will leave at the end of the year.

Mr Brock has been with the bank for more than 17 years, being part of the team that created and then launched the bank in 2002 . He was appointed Chief Executive in September 2010. The bank now has more than a million customers.

Chair of the bank Dr Susan Macken paid tribute to Mr Brock’s leadership through a period of rapid growth and said he had done a great job setting the bank up to continue to expand and prosper. She said the board and the shareholders thanked him for his contribution to making the bank such a success and wished him well with his future endeavours. She said a search for a new CEO would begin immediately.

In the last year there have been major changes to the bank including New Zealand Post selling 47 per cent of its shareholding of the bank to the New Zealand Super Fund (25%) and ACC (22%).

Mr Brock said he has had a “very rewarding” 17 years with the bank but he would now like to take a break and consider what the future holds.

Mr Brock thanked the staff and management for their loyalty and commitment to making the bank a success.