Horizon Bancorp, Inc. Announces Retirement of Craig Dwight as Chairman and Enhancements to Board of Directors Structure
Horizon Bancorp (NASDAQ: HBNC) announced significant leadership changes to its Board of Directors. Craig Dwight will retire as Chairman effective May 1, 2025, following his written notice on February 24, 2025. The Board has elected Eric Blackhurst as Independent Chairperson, leveraging his seven-year tenure as Company Director and 35-year career at Dow Chemical Company.
With this transition, the Independent Lead Director role held by Michele Magnuson will be retired, though she will remain on the Board serving on the Compensation and Governance Committees. Additionally, Larry Magnesen, with over 20 years of experience at Fifth Third Bank, has joined Horizon Bank's Board of Directors effective February 25, 2025.
Horizon Bancorp (NASDAQ: HBNC) ha annunciato significativi cambiamenti nella leadership del suo Consiglio di Amministrazione. Craig Dwight si ritirerà dalla carica di Presidente a partire dal 1 maggio 2025, dopo aver presentato la sua comunicazione scritta il 24 febbraio 2025. Il Consiglio ha eletto Eric Blackhurst come Presidente Indipendente, sfruttando i suoi sette anni di esperienza come Direttore dell'azienda e una carriera di 35 anni presso la Dow Chemical Company.
Con questa transizione, il ruolo di Direttore Indipendente Principale ricoperto da Michele Magnuson sarà ritirato, anche se lei rimarrà nel Consiglio servendo nei Comitati per la Retribuzione e la Governance. Inoltre, Larry Magnesen, con oltre 20 anni di esperienza presso Fifth Third Bank, si è unito al Consiglio di Amministrazione di Horizon Bank a partire dal 25 febbraio 2025.
Horizon Bancorp (NASDAQ: HBNC) anunció cambios significativos en el liderazgo de su Junta Directiva. Craig Dwight se retirará como Presidente a partir del 1 de mayo de 2025, tras su aviso por escrito el 24 de febrero de 2025. La Junta ha elegido a Eric Blackhurst como Presidente Independiente, aprovechando su experiencia de siete años como Director de la Empresa y su carrera de 35 años en Dow Chemical Company.
Con esta transición, el papel de Director Independiente Principal que ocupaba Michele Magnuson será retirado, aunque ella permanecerá en la Junta sirviendo en los Comités de Compensación y Gobernanza. Además, Larry Magnesen, con más de 20 años de experiencia en Fifth Third Bank, se ha unido a la Junta Directiva de Horizon Bank a partir del 25 de febrero de 2025.
Horizon Bancorp (NASDAQ: HBNC)는 이사회에 중대한 리더십 변화를 발표했습니다. Craig Dwight는 2025년 5월 1일부로 의장직에서 은퇴할 예정이며, 이는 2025년 2월 24일에 제출한 서면 통지에 따른 것입니다. 이사회는 Eric Blackhurst를 독립 의장으로 선출하였으며, 그는 회사 이사로서 7년의 경력과 Dow Chemical Company에서의 35년 경력을 활용하고 있습니다.
이번 전환으로 Michele Magnuson이 맡고 있던 독립 수석 이사 역할은 종료되지만, 그녀는 보상 및 거버넌스 위원회에서 계속 활동할 것입니다. 또한, Larry Magnesen은 Fifth Third Bank에서 20년 이상의 경력을 가지고 있으며, 2025년 2월 25일부터 Horizon Bank의 이사회에 합류하였습니다.
Horizon Bancorp (NASDAQ: HBNC) a annoncé d'importants changements de leadership au sein de son Conseil d'Administration. Craig Dwight prendra sa retraite en tant que Président à compter du 1er mai 2025, suite à son avis écrit du 24 février 2025. Le Conseil a élu Eric Blackhurst comme Président Indépendant, s'appuyant sur ses sept années de mandat en tant que Directeur de l'entreprise et sur ses 35 ans de carrière chez Dow Chemical Company.
Avec cette transition, le rôle de Directeur Principal Indépendant occupé par Michele Magnuson sera supprimé, bien qu'elle demeure au Conseil en siégeant aux Comités de Rémunération et de Gouvernance. De plus, Larry Magnesen, fort de plus de 20 ans d'expérience chez Fifth Third Bank, a rejoint le Conseil d'Administration de Horizon Bank à compter du 25 février 2025.
Horizon Bancorp (NASDAQ: HBNC) hat bedeutende Veränderungen in der Führung seines Vorstands angekündigt. Craig Dwight wird zum Vorsitzenden mit Wirkung zum 1. Mai 2025 zurücktreten, nachdem er am 24. Februar 2025 seine schriftliche Mitteilung eingereicht hat. Der Vorstand hat Eric Blackhurst zum unabhängigen Vorsitzenden gewählt, der auf seiner siebenjährigen Amtszeit als Unternehmensdirektor und einer 35-jährigen Karriere bei der Dow Chemical Company aufbaut.
Mit diesem Übergang wird die Rolle des unabhängigen Hauptdirektors, die von Michele Magnuson gehalten wurde, aufgehoben, obwohl sie im Vorstand bleibt und in den Vergütungs- und Governance-Ausschüssen tätig sein wird. Darüber hinaus ist Larry Magnesen, der über 20 Jahre Erfahrung bei Fifth Third Bank verfügt, am 25. Februar 2025 dem Vorstand von Horizon Bank beigetreten.
- Transition to Independent Chairperson structure enhances corporate governance
- New Chairman brings 35 years of corporate legal experience
- Addition of Larry Magnesen adds strategic marketing expertise to the Board
- Loss of long-term Chairman with 25+ years of company experience
MICHIGAN CITY, Ind., Feb. 26, 2025 (GLOBE NEWSWIRE) -- (NASDAQ GS: HBNC) Horizon Bancorp, Inc. (“Horizon” or the “Company”) announced that Craig Dwight, Chairman of Board, will retire from the Board of Directors effective at the expiration of his current term on May 1, 2025. Mr. Dwight provided written notice of his decision on February 24, 2025, which was accepted by the Board on February 25, 2025. Concurrently, the Board of Directors elected Eric Blackhurst to serve as an Independent Chairperson, effective upon Mr. Dwight’s retirement. Mr. Blackhurst has served as a Company Director for over seven years during which time his leadership has been instrumental, notably as Chairperson of Corporate Governance and as a member of the Compensation Committee. Mr. Blackhurst recently retired from an esteemed 35-year career at The Dow Chemical Company where he served as Associate General Counsel, Corporate Transactions and Latin America. His is currently interim president of Alma College. Additionally, with Horizon’s transition to an Independent Chairperson, the role of Independent Lead Director, currently held by Michele Magnuson, will be retired. Ms. Magnuson will remain on the Board and continue to serve on the Compensation and Governance Committees.
“On behalf of the Board of Directors, Executive Leadership, and Horizon’s Advisors, it is my privilege to thank and congratulate Craig who will retire from the Board upon the expiration of his term in May. For more than 25 years Craig drove the success of Horizon by fostering a winning culture centered on placing client needs first, strengthening the communities Horizon calls home, and delivering significant value for Horizon’s shareholders. His legacy of servant leadership has positively impacted all who have had the pleasure to work with him. We wish Craig and his family the best as he enjoys this richly earned new chapter in life,” said Thomas Prame, Horizon’s President and Chief Executive Officer. “I am also pleased to announce the Board’s election of Eric Blackhurst to Independent Chairperson. Eric’s strategic vision, character and experience make him ideally suited to seamlessly transition into the role of Chairperson. I look forward to our continued positive working relationship and the value he will bring to Horizon in this important new role. Additionally, we would like to thank Michele Magnuson for her impactful stewardship as independent Lead Director over the last 3 years. We are fortunate to have Michele as a Board member, and we look forward to the positive contributions she continues to bring to the Board and organization.”
In addition to the changes to Horizon’s director roles, Horizon welcomes Larry Magnesen to the Horizon Bank’s Board of Directors effective February 25, 2025. Mr. Magnesen brings to the Bank Board significant experience in marketing and corporate communications resulting from his 20 plus-year career at Fifth Third Bank in various senior leadership roles. “Larry has a vast experience in financial services marketing and corporate communications that will benefit Horizon Bank’s strategic objective of profitably expanding our core banking relationships,” Prame added. “Larry brings a great understanding of attracting and retaining core clients that is combined with an intimate knowledge of our local markets through his former leadership roles. I look forward to the immediate contributions Larry will bring to Horizon’s strategic outlook and the valuable skillset he adds to our already very talented Bank Board.”
About Horizon Bancorp, Inc.
Horizon Bancorp, Inc. (NASDAQ GS: HBNC) is the nearly 8 billion–asset bank holding company for Horizon Bank, which serves customers across attractive Midwestern markets through convenient digital tools, as well as its Indiana and Michigan branches. Horizon's retail offerings include prime residential, indirect auto, and other secured consumer lending, as well as a range of personal banking and wealth management solutions. Horizon also provides a comprehensive array of in–market business banking and treasury management services, as well as equipment financing solutions for customers regionally and nationally, with commercial lending representing over half of total loans. More information on Horizon, headquartered in Northwest Indiana's Michigan City, is available at horizonbank.com and investor.horizonbank.com.
Contact: Thomas Prame
Chief Executive Officer and President
Phone: (219) 814-5983
Date: February 26, 2025
FAQ
When will Craig Dwight retire as Chairman of Horizon Bancorp (HBNC)?
Who will replace Craig Dwight as Chairman of HBNC?
What experience does Eric Blackhurst bring to the HBNC Chairman role?
What changes are happening to HBNC's Board structure in 2025?
