Camco Financial Corporation and Advantage Bank to Combine the Chief Executive Officer and Chairman Roles.CAMBRIDGE, Ohio Cambridge is a city in the U.S. state of Ohio and the county seat of Guernsey CountyGR6. The municipality is located in southeastern Ohio and is in the Appalachian Plateau of the Appalachian Mountains. -- Camco Financial Corporation and Advantage Bank announced that their respective boards of directors approved the combining of the Chief Executive Officer (CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. ) and Chairman of the Board positions, effective November 9, 2006, coincident co·in·ci·dent adj. 1. Occupying the same area in space or happening at the same time: a series of coincident events. See Synonyms at contemporary. 2. with the retirement of Larry A. Caldwell. Mr. Caldwell has been Chairman of Camco Financial Corporation since its inception in 1970 and has been with the organization since 1958. Mr. Caldwell was instrumental in the growth of Camco and Advantage Bank including the acquisition and expansion of banking organizations in Ohio, Kentucky and West Virginia West Virginia, E central state of the United States. It is bordered by Pennsylvania and Maryland (N), Virginia (E and S), and Kentucky and, across the Ohio R., Ohio (W). Facts and Figures Area, 24,181 sq mi (62,629 sq km). Pop. . Today, CamcoeIUs assets exceed $1 billion. Richard C. Baylor, CEO and President of Camco Financial Corporation and Advantage Bank will be named Chairman of both organizations effective November 10, 2006. In anticipation of the roles of the CEO and Chairman of the Board being combined as they were in the companyeIUs past, the boards also created the position of Lead Director to provide for an independent director in a leadership role for each board. The Lead Director also serves as Chair of the Corporate Governance Corporate Governance The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law. and Nominating Committee A nominating committee is a group formed usually from inside the membership of an organization for the purpose of nominating candidates for office within the organization. It works similarly to an electoral college, the main difference being that the available candidates, either . Effective January 1, 2006, Susan J. Insley assumed the roles of Lead Director and Chair of the Corporate Governance and Nominating Committee in anticipation of Mr. CaldwelleIUs retirement. The boards determined that combining the roles of the CEO and Chair of the Board provides for continuity and reflects the boardeIUs support for Mr. BayloreIUs leadership. The boards also established the position of Lead Director to act as the representative for the independent board members to the CEO-Chairman, reflecting Camco Financial Corporation and Advantage BankeIUs strong commitment to continued strong corporate governance. Camco Financial Corporation, holding company of Advantage Bank, is a multi-state financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. holding company headquartered in Cambridge, Ohio. Advantage Bank and its affiliates offer relationship banking that includes commercial, business and consumer financial services, internet banking and title insurance services from 30 offices in 23 communities in Ohio, Kentucky and West Virginia. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion