The Financial Post reports in its Tuesday, Oct. 3, edition that Rania Llewellyn is out after nearly three years as chief executive officer of Laurentian Bank of Canada, her sudden departure coming less than a month after a strategic review failed to find a buyer for the underperforming bank. The Post's Barbara Shecter writes that shortly after the strategic review ended, the bank's operations were shaken by a major IT outage that has not been fully resolved. Ms. Llewellyn, who was recruited to Laurentian from Bank of Nova Scotia in 2020 with much fanfare, becoming the first woman to lead a major Canadian bank, has been succeeded as CEO by Eric Provost, an 11-year veteran of Laurentian who was most recently group head of personal and commercial banking. He has also joined the board of directors. In a further shake-up, Michael Boychuk, former audit committee chairman and reportedly a key player in the strategic review, has been appointed chairman of the board following the resignation of director and chairman Michael Mueller, who had been on the board since 2013. Mr. Boychuk said in a Monday statement, "Eric is the right executive to lead the bank at this critical point in its evolution."