German American Implements Previously Announced Management Succession Plan Realignment

Rhea-AI Summary

German American Bancorp (GABC) has initiated a management succession plan ahead of Executive Vice Chairman Clay W. Ewing's retirement on April 1, 2021. Mark A. Schroeder, the current Chairman & CEO, will continue in his role, supported by a team of senior executives including D. Neil Dauby as President and COO, and Bradley M. Rust as CFO. The company operates 73 banking locations across Indiana and Kentucky, maintaining a diverse financial portfolio.

Positive

• Management succession plan may ensure smooth transition and stability.
• Experienced senior management team named, potentially enhancing operational efficiency.

Negative

• Retirement of a key executive may create uncertainty among investors.

JASPER, Ind., Jan. 06, 2021 (GLOBE NEWSWIRE) -- German American Bancorp, Inc. (Nasdaq: GABC) has moved forward with the implementation of its previously announced management succession plan. German American Chairman & CEO, Mark A. Schroeder, announced that, in connection with the planned retirement of Executive Vice Chairman Clay W. Ewing as of April 1, 2021, the Board of Directors has named the following individuals to the Corporation’s Senior Management Group effective January 1, 2021.

Named Executive Officers

Mark A. Schroeder, Chairman and Chief Executive Officer Clay W. Ewing, Executive Vice Chairman D. Neil Dauby, President, Chief Operating Officer and Secretary Bradley M. Rust, Senior Executive Vice President, Chief Financial Officer and Treasurer Randall L. Braun, Executive Vice President and Chief Banking Officer Keith A. Leinenbach, Executive Vice President and Chief Credit Officer

Senior Bank Officers

Jane A. Balsmeyer, Senior Vice President, Marketing Clay M. Barrett, Senior Vice President, Technology and Operations Edward J. Erickson, Senior Vice President, Mortgage Services Brock C. Goggins, Senior Vice President, Retail Banking Sarah E. Howard, Senior Vice President, Finance Amy D. Jackson, Senior Vice President, Administrative Development and Strategic Planning Vicki L. Schuler, Senior Vice President, Controller Brent A. Sternberg, Senior Vice President, Wealth Management

Senior Divisional Officers

Michael F. Beckwith, Kentucky Division President C. Adrian Brown, Indiana East Division President John T. Lamb, Indiana West Division President

About German American

German American Bancorp, Inc. is a Nasdaq-traded (symbol: GABC) financial holding company based in Jasper, Indiana. German American, through its banking subsidiary German American Bank, operates 73 banking offices in 20 contiguous southern Indiana counties and eight counties in Kentucky. The Company also owns an investment brokerage subsidiary (German American Investment Services, Inc.) and a full line property and casualty insurance agency (German American Insurance, Inc.).

For additional information, contact:
Mark A Schroeder, Chairman & Chief Executive Officer of German American Bancorp, Inc.
 (812) 482-1314

FAQ

What is the management succession plan for German American Bancorp (GABC)?

German American Bancorp has announced a management succession plan to facilitate a smooth transition following the retirement of Executive Vice Chairman Clay W. Ewing on April 1, 2021.

Who are the new executives appointed by German American Bancorp (GABC)?

The new executives include Mark A. Schroeder as Chairman and CEO, D. Neil Dauby as President and COO, and Bradley M. Rust as CFO, among others.

When is Clay W. Ewing retiring from German American Bancorp (GABC)?

Clay W. Ewing is set to retire on April 1, 2021.

How many banking offices does German American Bancorp (GABC) operate?

German American Bancorp operates 73 banking offices in southern Indiana and parts of Kentucky.

What is the stock symbol for German American Bancorp?

The stock symbol for German American Bancorp is GABC.