Rabobank NZ says CEO Daryl Johnson is leaving with search underway for his replacement

Yet another New Zealand bank CEO is exiting.

This time it’s Rabobank NZ CEO Daryl Johnson. 

In a brief statement from chairman Henry van der Heyden Rabobank says Johnson, who has only been in the job since July last year, has resigned. The statement doesn’t say why. However, a Rabobank spokeswoman told interest.co.nz Johnson, an Australian, is returning to Australia for family reasons.

His resignation takes effect on December 22. The specialist rural lender says it has started a process to appoint a new CEO.

Johnson was previously the Asia CEO at BNZ’s parent National Australia Bank (NAB).

Rabobank joins ASB, Kiwibank and TSB in the search for a new CEO, with BNZ also recently announcing NAB’s Angela Mentis will succeed Anthony Healy from January.

Ironically it also emerged this week that one of Johnson’s predecessors at Rabobank, Ben Russell, is also moving on. Heartland Bank’s head of rural banking for the past two years, Russell has taken a role as deputy CEO at animal health business Argenta Ltd.