It didn't matter how many times the question was asked, incoming Bank of Queensland chief executive Stuart Grimshaw declared himself happy with the business he is taking over. He will review the group's strategy in due course but there are no pressing issues, he says.Bank of Queensland announced yesterday that Grimshaw, a seasoned banker who has held senior executive posts at Commonwealth Bank and National Australia Bank, will take over as CEO in November.Outgoing CEO, David Liddy, who has been in the job since April 2001, will leave the bank next month. The bank's chief operating officer, Ram Kangatharan, will be acting CEO from September to November.The bank's chairman, Neil Summerson, said a number of successful acquisitions, diversification of the bank's operations and the expansion of the owner-manager branch structure were among the highlights of Liddy's tenure.But if financial metrics are a measure of a CEO's record then recent results are disappointing.BOQ reported an annualised return on equity of 4.1 per cent in the February 2011 half-year and a return on assets of 0.26 per cent -  both well below the average return for domestic banks in Australia (outside of the Big Four).Grimshaw - apparently following talking points put up by his new employer - said the strong position of the bank coming out of the financial crisis was a testament to its good management.He said: "I am happy with the way things are looking in the business. It is in a great position. The first thing I am going to be doing is learning more."This study is likely to include the reasons for a dramatic rise in the ratio of impaired assets at the bank, which increased by a factor of three in the year to May. While the 2011 floods and a depressed tourism industry will exaggerate this metric, the trend is nevertheless out of line with asset quality trends across the banking sector.Grimshaw started his career at ANZ. He spent most of the 1990s at NAB, where his roles included chief executive of the Great Britain business.In 2001, he moved to Commonwealth Bank, where he was chief financial officer, then group executive investment and insurance services, and then head of the business banking division. For the past three years he has been the chief executive of Caledonia Investments, a $2 billion asset management boutique.