Dec 10 (Reuters) - Australia's IOOF Holdings Ltd (IFL) said on Monday its managing director Christopher Kelaher and Chairman George Venardos will step aside from their respective positions immediately, pending resolution of proceedings brought by the prudential regulator.
Australian Prudential Regulation Authority (APRA) said on Friday it is looking to disqualify five top IOOF executives for failing to act in their customers' interests, marking its first such intervention against existing company officials.
Kelaher and Venardos will be on leave while they focus on defending the actions brought against them by APRA, the wealth manager said in a statement.
Renato Mota, currently group general manager - wealth management, has been appointed acting chief executive while Allan Griffiths, a non-executive Director of IFL, will be the acting chairman.
News: IFL Australia's IOOF Holdings MD, chairman go on leave pending APRA proceedings
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Last
$3.14 |
Change
0.010(0.32%) |
Mkt cap ! $1.703B | |||
| Open | High | Low | Value | Volume |
| $3.13 | $3.18 | $3.10 | $4.755M | 1.511M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 16014 | $3.13 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.17 | 27892 | 7 |
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| IFL (ASX) Chart |
