Bank of Ireland CEO to Take Leave While Cancerous Polyp Removed

Bank of Ireland Plc Chief Executive Officer Richie Boucher said he will take a leave of absence in August while he has an early-stage cancerous growth removed.

“I underwent my routine annual medical check-up and, during the course of this, an early stage 1 cancerous polyp was identified in my colon,” Boucher, 55, said in an internal message to employees today. “My doctor has advised me that this can be successfully removed through a standard medical procedure.”

Boucher will present the company’s first-half results on Aug. 1 as planned, spokeswoman Anne Mathews said by telephone. Boucher said he expects to return to work in September.

Since taking over at Bank of Ireland, which received a 4.8 billion-euro ($6.5 billion) bailout during the financial crisis, Boucher has shrunk the lender’s balance sheet, cut about 2,000 jobs and returned 6 billion euros to taxpayers. The bank returned to profit in the first quarter for the first time since 2008 as impaired loans fell and lending margins rose.

“My absence will not adversely impact on the strong performance we are making against our shared objectives for the group,” Boucher said.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE