March 24, 2017 / 2:25 PM / 6 months ago

Bank of Ireland CEO Boucher to retire later this year

DUBLIN, March 24 (Reuters) - Bank of Ireland chief executive Richie Boucher will retire later this year after almost a decade in charge of the lender he guided from the brink of nationalisation to lead a revival across the sector, the bank said on Friday.

Boucher, who joined Ireland’s largest lender by assets in 2003, headed up its corporate banking and retail divisions before being appointed CEO in February 2009, shortly after the bank, like all other Irish lenders, sought a state bailout.

Boucher said the board’s succession process was now underway and that he would continue to lead the group while facilitating the transition to his successor.

“I will be 59 in August of this year and I feel it best for the group that someone else leads the group’s next stage of development,” Boucher said in a statement. (Reporting by Padraic Halpin; Editing by Mark Potter)

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