open door business

Laurentian Bank Financial Group says its president and chief executive is stepping down from the bank and retiring.

The Montreal-based bank says Francois Desjardins will resign from his roles and depart on June 30, 2020.

Desjardins spent 29 years at the bank and holds a director role, which he will also leave behind when he retires.

The bank says Stephane Therrien will step in as interim president and chief executive and serve as a director of Laurentian.

Therrien has spent 30 years in the financial sector and is currently its executive vice-president of personal and commercial banking and the president and chief executive of Laurentian Bank of Canada’s financial services.

The bank’s board of directors has established a special committee to immediately begin the search to replace Desjardins on a permanent basis.