Laurentian Bank appoints new CEO after computer mainframe outage

Following a major power outage last week, the effects of which are still being felt, Laurentian Bank has announced the departure of its president and chief executive officer, Rania Llewellyn, and its board chairman Michael Mueller.

Laurentian Bank announced the appointment of Eric Provost as president and chief executive on Monday, following a computer outage at the bank last week.

Provost replaces Rania Llewellyn in the top job, effective immediately. He was most recently Laurentian's group head of personal and commercial banking.

The bank also said director Michael Boychuk has been appointed chair of its board of directors, replacing Michael Mueller, who has resigned from the board.

"We have experienced challenges recently and the board is confident that Eric will successfully focus the organization on our customer experience and operational effectiveness," Boychuk said in a statement.

"Eric's appointment as CEO follows his exceptional performance leading our commercial banking business and was part of our formal succession planning process."

Laurentian said it suffered a mainframe outage last week during a planned IT maintenance update. It said customer data and financial information remained secure at all times.