Attached files
file | filename |
---|---|
8-K - 8-K - CAMDEN NATIONAL CORP | a8k91917.htm |
CONTACT:
Gretchen Williams
PR & Communications Officer
Camden National Bank
(207)518-5684 or gwilliams@CamdenNational.com
FOR IMMEDIATE RELEASE
September 19, 2017
Camden National Corporation Announces Board Retirement and Elections
CAMDEN, Maine, September 19, 2017 – The Board of Directors for Camden National Corporation
(NASDAQ: CAC; “Camden National” or the “Company”), elected Lawrence “Larry” J. Sterrs to succeed
Karen Stanley as Chair of the Company and Camden National Bank effective September 17, 2017.
Stanley, who joined the Board of Directors in 2008 and became Chair in 2010, retired from the Board on
September 17, 2017. John Holmes, who has served on the Board since 1988, retired on September 15,
2017, after 29 devoted years.
For the past seven years, Camden National Corporation has flourished under Stanley’s leadership as
Chair. Highlights of her tenure include Camden National Bank’s acquisition of 14 banking centers from
Bank of America in 2012, acquisition of The Bank of Maine in 2015, and consolidation and rebranding of
Acadia Trust to Camden National Wealth Management in 2016.
“We are grateful for the wealth of business experience and community commitment that Karen and
John have brought to the Board of Directors,” said Greg Dufour, President and CEO. “Karen’s expertise
and leadership as Chair have ensured that Camden National Corporation grows significantly as a Maine-
based business with local roots and innovative products and services. We thank Karen and John for their
dedication, strategic oversight and steadfast commitment, and we wish them well in their personal and
professional pursuits.”
Sterrs has served on the Camden National Corporation Board of Directors since January 2015, and he
was named Vice Chair effective January 2017. He is a member of the Compensation and Technology
Committees, and became Chair of the Governance and Risk Committee when he succeeded Stanley as
Board Chair. He brings over 40 years of professional experience in the telecommunications industry. He
is Board Chairman of UniTek, Inc. and its telecom subsidiary, UniTel, Inc., and he was formerly CEO of
each company. Since 2001, Sterrs has served as Chairman and CEO of the Unity Foundation, a public
charity founded in 2000 that provides strategic grant making and executive and board coaching to non-
profit organizations throughout Maine.
Sterrs noted, “When first elected to Camden National Corporation’s Board of Directors, I was impressed
by the Company’s legacy built on a banking experience that people and communities can trust. I am
inspired by the Company’s continuous investment in its customers, shareholders, employees, and local
communities. It has been incredibly rewarding to see Camden National Corporation’s growth in Maine
and beyond, and I am proud to follow in Karen’s footsteps as the next Chair.”
Sterrs brings deep experience with strategic planning and operational management having previously
worked for ConTel Corporation and BerryDunn McNeil and Parker, LLC. He is an experienced board
leader holding previous positions on both for-profit and non-profit boards including the
Telecommunications Association of Maine, Oxford Networks, Good Will-Hinckley, and Thomas College.
About Camden National Bank
Camden National Corporation (NASDAQ:CAC), founded in 1875 and headquartered in Camden, Maine, is
the largest publicly traded bank holding company in Northern New England with $4.0 billion in assets
and nearly 650 employees. Camden National Bank, its subsidiary, is a full-service community bank that
offers an array of consumer and business financial products and services, accompanied by the latest in
digital banking technology to empower customers to bank the way they want. The Bank provides
personalized service through a network of 60 banking centers, 76 ATMs, and lending offices in New
Hampshire and Massachusetts, all complimented by 24/7 live phone support. Comprehensive wealth
management, investment, and financial planning services are delivered by Camden National Wealth
Management. To learn more, visit CamdenNational.com. Member FDIC.
###