The Regional Investment Corporation (RIC) Board has announced the resignation of its inaugural Chief Executive Officer, Bruce King.
Mr King leaves the organisation having overseen the growth of the business to over $3.07 billion in lending during his three years as CEO.
"The Board would like to extend its thanks to Mr King for his leadership during his three years as CEO," RIC Chair Karen Smith-Pomeroy said.
"Mr King played a pivotal role in the establishment of what is now a key rural and regional finance organisation supporting Australian farming and farm-related businesses during one of the most challenging droughts on record in Australia.
"He has been a strong advocate for regional communities during his tenure, developing a capable workforce based across regional Australia.
"The RIC will continue to work collaboratively with our partners to take the organisation to the next phase of our strategic development for the betterment of regional Australia.
"The Board wishes Bruce well in his future endeavours.
"The Board is now focused on finding the right CEO candidate to build on the strong foundations established by Mr King."
The Board has appointed Executive Director Corporate Services Paul Dowler as Acting Chief Executive Officer, as it commences the recruitment process.
