Andrew Bester has announced his intention to step down as CEP of the Co-operative Bank, as well as step down as the director of its parent company.
Chairman Bob Dench has begun the process to find his successor, and Bester has committed to remain at the group until that process is complete.
The date of his departure will be confirmed “in due course”.
Bester first joined the bank in July 2018, and has since led a “complex” transformation programme, delivering key milestones that include the separation of IT systems from The Co-op Group and a significant digitalisation programme.
According to the bank, he has also “re-energised” the brand and improved customer satisfaction levels.
Chairman Bob Dench said: “I would like to thank Andrew for his dedicated leadership since taking up the position of Chief Executive Officer.
“We appointed Andrew for his significant expertise in delivering major transformation programmes and he has ensured that we have successfully completed the “fixing the basics” phase of our turnaround. The progress made provides the foundations for the Bank to grow and to build a successful future.”
He added: “Over recent months Andrew has worked tirelessly to navigate through the national crisis we all face and to support our customers through the pandemic. I thank him for the support he has provided during this unprecedented period and we wish him all the best for the future.”
Andrew Bester, CEO, said: “It’s been a real privilege to lead an organisation with such a distinct brand, clear purpose and values and I’m so proud of the work of all colleagues to both deliver our strategy and to make a difference to the communities around us.
“I‘m delighted that, despite the challenging environment we currently all face, we are supporting our customers through these difficult times and seeing positive growth in balances and new customer numbers.”
He added: “My ambition was to complete the major transformation phase of the turnaround and for our franchise to show resilience.
“At this point, I believe the Bank is on the right path and it is time for a new CEO to continue the journey to be the digital ethical bank. In the meantime I remain focused on working with colleagues to provide the support our customers need.”