Why the Bendigo Bank (ASX:BEN) share price is outperforming today

The Bendigo Bank share price is a green beckon amongst a sea of red.
The post Why the Bendigo Bank (ASX:BEN) share price is outperforming today appeared first on The Motley Fool Australia. –

The Bendigo and Adelaide Bank Ltd (ASX: BEN) share price is outperforming the broader market today amid news of its newest board appointment

And by outperforming the market, we mean it’s not falling. The Bendigo Bank share price is currently 0.15% higher than its previous close, trading at $10.01. 

That’s a better day’s trade than the S&P/ASX 200 Index (ASX: XJO) is struggling through. Right now, the ASX 200 Index has fallen 0.07%, while the All Ordinaries Index (ASX: XAO) has slipped 0.16%. 

It may be news of an appointment to its board that’s keeping the Bendigo Bank share price in the green today.

Let’s take a closer look at today’s news from Bendigo Bank.

Bendigo Bank’s newest appointment

The Bendigo Bank share price is gaining amid news that former Deloitte CEO Richard Deutsch, will be joining the bank’s board. 

Jacqueline Hey, chair of Bendigo Bank, commented that Deutsch’s past experience will be of benefit to the bank. She said:

Richard’s deep audit and advisory experience will bring significant weight to both our board and board audit committees. Richard’s commitment to strengthening community and social justice also strongly aligns with our Bank’s values, longstanding purpose and vision to be Australia’s bank of choice.

Prior to taking on the top role at Deloitte, Deutsch served as the company’s managing partner of the audit and advisory practice and a member of the global audit and advisory leadership team.

Deutsch has also previously taken on leadership roles at charitable organisations OzHarvest and Adara Group. He has also been a member of Male Champions of Change, the Australian Climate Leaders Coalition, and the Business Council of Australia. 

Deutsch commented that he was honoured to be joining the board. He said he’s “strongly aligned to the organisation’s sense of purpose and community”. 

Deutsch will take his new seat in September. His appointment follows news that Robert Hubbard and Tony Robinson will retire from Bendigo Bank’s board in November. 

Bendigo Bank share price snapshot

Today’s slight gain included, the Bendigo Bank share price is 5% higher than it was at the start of 2021. It has also gained 55% since this time last year.

The post Why the Bendigo Bank (ASX:BEN) share price is outperforming today appeared first on The Motley Fool Australia.

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More reading

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Why Beach, Bendigo & Adelaide Bank, Flight Centre, & Lendlease are tumbling lower

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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