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Paul Brock calls it quits at Kiwibank

Paul Brock, chief executive of Kiwibank, will leave at the end of the year.Chair of the bank, Susan Macken, said a search for a new CEO would begin immediately, suggesting the board had little preparation on the timing of Brock's "resignation", and any CEO succession plan was not ready to activate.Brock has been with the bank for more than 17 years, being part of the team that created and then launched the bank in 2002. He was appointed Chief Executive in September 2010. Kiwibank now has "more than a million customers," the bank chirped in a media release.Profits at the bank have been constrained, and the progress of an overhaul of its core technology systems (to an SAP core, moving from CoreData) delayed.

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