Customers Bancorp, Inc. disclosed on April 12, 2024, that its Executive Vice President and Chief Financial Officer, Carla Leibold, was terminated on April 10, 2024. The initial disclosure stated her termination was 'for cause' under her employment agreement, citing a violation of Company policy.
Later in April, the company amended this description, stating that Ms. Leibold's termination was a 'separation by mutual agreement.' As part of this revised arrangement, Ms. Leibold was to receive $2.5 million in 'post-employment compensation.'
This executive leadership change, particularly with the initial 'for cause' reason, raises questions regarding internal controls and corporate governance practices. Investors typically monitor such high-level personnel changes closely for potential impacts on company stability and operational integrity.
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