Peoples Financial Services Corp. announced an update to its succession plans on October 25, 2024. Craig W. Best and the board mutually agreed that Mr. Best would cease serving as Chief Executive Officer and director of the Company and its banking subsidiary, Peoples Security Bank and Trust Company, effective December 31, 2024.
Gerard A. Champi, who currently serves as President of the Company and the Bank, will succeed Mr. Best as Chief Executive Officer. Thomas P. Tulaney, the current Chief Operating Officer, will succeed Mr. Champi as President of the Company and the Bank.
The decision for Mr. Best to leave at the end of the year was made given the progress in integrating the two companies following the FNCB merger and the successful completion of the Bank's system conversion on October 15, 2024. This planned transition ensures continuity in leadership for the company.
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