Citizens Banking Corporation CFO Announces Retirement Plans.Business Editors FLINT, Mich.--(BUSINESS WIRE)--June 24, 2002 John W. Ennest, vice chairman, chief financial officer and treasurer of Citizens Banking Corporation (Nasdaq:CBCF) announced today that he plans to retire by the end of this year. Ennest has been with the organization for over 19 years, originally serving as Citizens Bank's CFO See Chief Financial Officer. . He was named president and 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. of the bank in 1987 and in 1991 became vice chairman of the board of directors of Citizens Banking Corporation and COO of the corporation. Ennest became CFO and treasurer of the corporation in 1994. William R. Hartman, president and CEO of Citizens commented on Ennest's announcement, "Jack has played a key role in the growth of this company from a $1 billion Flint, MI community bank to our current position as a $7.5 billion regional financial company doing business in four Midwestern states. I appreciate that Jack has announced his year-end retirement plan now to allow us to plan for a smooth transition of responsibilities to his successor." Prior to joining Citizens, Ennest was director of strategic planning for NBD Bancorp, the parent company of National Bank of Detroit The National Bank of Detroit (NBD) was a bank that operated mostly in the Midwestern United States.It was co-founded by Ben Young, the brother of famed fly rod builder Paul H. Young; Ben was President and Vice President of the bank in the 1930's -1940's. , where he had previously served as vice president and assistant comptroller. Ennest is past chairman of the Flint Area Chamber of Commerce, the United Way of Genesee and Lapeer Counties, the Flint Roundtable, Priority 90s, the Resource Center and the Perry School of Banking at Central Michigan University Central Michigan University, at Mount Pleasant, Mich.; coeducational; est. 1892 as a normal school, became Central State Teachers College in 1927, achieved university status in 1959. The university maintains a forest that is used for botanical and biological research. . He is a member of the Financial Executives Institute, the 100 Club of Flint, the NAACP NAACP in full National Association for the Advancement of Colored People Oldest and largest U.S. civil rights organization. It was founded in 1909 to secure political, educational, social, and economic equality for African Americans; W.E.B. Du Bois and Ida B. , the boards of directors of Mott Children's Health Center, the Whaley Children's Center, and Vision 2020 of Grand Blanc. Last year Ennest received the Distinguished Citizen Award from the Tall Pines Council of the Boy Scouts of America Noun 1. Boy Scouts of America - a corporation that operates through a national council that charters local councils all over the United States; the purpose is character building and citizenship training . A strong advocate of education, Ennest serves on the Baker College Board of Regents An independent governing body that oversees a state's public Colleges and Universities. All 50 states have governing bodies that oversee the administration of public education. . He has twice served as honorary chairman of the mid-Michigan United Negro College Fund The United Negro College Fund (UNCF) is a Fairfax, Virginia-based American philanthropic organization that fundraises college tuition money for African-American students and general scholarship funds for 39 historically black colleges and universities. . He has also taught economics at the University of Detroit and finance at the Robert M. Perry School of Banking at Central Michigan University. In addition to his 36-year career in banking, Ennest participated in the President's Executive Exchange Program in 1979. This program offers individuals from the private industry the opportunity to work for the federal government for one year. In this capacity he served during the Carter Administration as acting deputy administrator of Farmers Home Administration, an agency of the U.S. Department of Agriculture. Ennest received his undergraduate degree at the University of Detroit and a master's degree in business administration from Michigan State University Michigan State University, at East Lansing; land-grant and state supported; coeducational; chartered 1855. It opened in 1857 as Michigan Agricultural College, the first state agricultural college. . He resides in Grand Blanc, MI with his wife Cheryll. Citizens Banking Corporation is a diversified financial services company providing a full range of commercial, consumer, mortgage banking, trust and financial planning services to a broad client base. Citizens operates 197 branch, private banking, and financial center locations through Citizens Bank in Michigan, and suburban Chicago, Illinois and through F&M Bank in Wisconsin and Iowa. More news and information about Citizens is available at www.citizensonline.com. |
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