The Bank of Queensland Limited announced the appointment of current Executive Chairman Mr. Patrick Allaway as Managing Director & Chief Executive Officer and current non-executive director, effective 27 March 2023. Mr. Allaway will step down as Chairman and will take on the role of Managing Director & CEO for the period up to December 2024. Mr. Allaway's appointment will provide stability and continuity during this period, enabling the management team to continue delivering BOQ's priorities, as announced at the December 2022 AGM, of strengthening, simplifying, digitising, and optimising BOQ.

The search process for a long-term CEO will continue to allow further time for consideration of a wider pool of external candidates and the further development of internal candidates.