Bank of the Ozarks CEO to Spend 75% of His Time Running This Unit

At a recent industry conference, the CEO of Bank of the Ozarks (NASDAQ: OZRK), George Gleason, said that he would soon spend 75% of his time managing the bank's real estate specialties group, or RESG.

The decision wasn't sparked by the abrupt resignation in July of that unit's leader, Dan Thomas. Instead, Gleason said he had been planning to focus on RESG for a while.

"The reason I allocated in that time to RESG is we expect that business to double over the next three and a half to four years," said Gleason at the Barclays global financial services conference in September. "We expect to redouble that business again over the seven to eight to nine[-year] period of time."

Source: Fool.com