Karen Maidment, chief financial and administrative officer of BMO Financial Group, is taking a leave of absence for cancer treatment, the bank announced today. Tom Flynn, treasurer and executive vp for finance, will become acting CFO.

“Karen has been diagnosed with lymphoma and her treatment has begun,” said Bill Downe, president and CEO, BMO Financial Group, in a news release.

Commenting on Flynn’s appointment, Downe said “Tom has clearly demonstrated that he has the capabilities needed to take on this important mandate and is a central part of our succession plans. He will report directly to me.”

Downe added that Maidment will make herself available throughout this period for consultation.

“On behalf of my management team and every one of her BMO colleagues, we wish Karen all the best for a speedy recovery and we look forward to her return,” Downe said.