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AAP

Business

Derek Rose

Bank of Queensland addresses CEO's exit

Bank of Queensland

George Frazis has been forced out as chief executive of the Bank of Queensland. (Mick Tsikas/AAP PHOTOS) (AAP)

Bank of Queensland's executive chairman has told shareholders that he knows the abrupt removal of the bank's chief executive last week was "not ideal" but the board considered it the best option available.

Former Westpac executive George Frazis was forced out last Monday after leading the regional lender for three years, causing the bank's share price to drop 5.6 per cent.

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