Origin Bancorp, Inc. Provides Update on Board of Directors
Origin Bancorp (NYSE: OBK) announced a significant board restructuring, reducing its Board of Directors from 16 to 11 members. Five directors - Jay Dyer, Farrell Malone, Lori Sirman, Elizabeth Solender, and Steve Taylor - will not seek reelection at the 2025 Annual Meeting of Stockholders scheduled for April 23, 2025.
The decision follows an extensive study by the Nominating and Corporate Governance Committee to optimize board size and composition, aligning with governance best practices. The remaining 11 directors nominated for election include Daniel Chu, James D'Agostino Jr., James Davison Jr., A. La'Verne Edney, Meryl Farr, Richard Gallot Jr., Stacey Goff, Cecil Jones, Michael Jones, Gary Luffey, and Drake Mills.
The company emphasized that these changes are not due to any disagreements between departing directors and the company, but rather represent a strategic initiative to create a more efficient governance structure.
Origin Bancorp (NYSE: OBK) ha annunciato una significativa ristrutturazione del consiglio, riducendo il numero dei membri del Consiglio di Amministrazione da 16 a 11. Cinque direttori - Jay Dyer, Farrell Malone, Lori Sirman, Elizabeth Solender e Steve Taylor - non si ricandideranno per la rielezione all'Assemblea Annuale degli Azionisti prevista per il 23 aprile 2025.
La decisione segue uno studio approfondito da parte del Comitato per le Nomine e la Governance Aziendale per ottimizzare la dimensione e la composizione del consiglio, allineandosi alle migliori pratiche di governance. I restanti 11 direttori nominati per l'elezione includono Daniel Chu, James D'Agostino Jr., James Davison Jr., A. La'Verne Edney, Meryl Farr, Richard Gallot Jr., Stacey Goff, Cecil Jones, Michael Jones, Gary Luffey e Drake Mills.
La società ha sottolineato che questi cambiamenti non sono dovuti a disaccordi tra i direttori uscenti e la società, ma rappresentano piuttosto un'iniziativa strategica per creare una struttura di governance più efficiente.
Origin Bancorp (NYSE: OBK) anunció una reestructuración significativa de su junta, reduciendo el número de miembros de la Junta Directiva de 16 a 11. Cinco directores - Jay Dyer, Farrell Malone, Lori Sirman, Elizabeth Solender y Steve Taylor - no buscarán la reelección en la Junta Anual de Accionistas programada para el 23 de abril de 2025.
La decisión sigue a un estudio exhaustivo realizado por el Comité de Nominaciones y Gobernanza Corporativa para optimizar el tamaño y la composición de la junta, alineándose con las mejores prácticas de gobernanza. Los 11 directores restantes nominados para la elección incluyen a Daniel Chu, James D'Agostino Jr., James Davison Jr., A. La'Verne Edney, Meryl Farr, Richard Gallot Jr., Stacey Goff, Cecil Jones, Michael Jones, Gary Luffey y Drake Mills.
La empresa enfatizó que estos cambios no se deben a desacuerdos entre los directores salientes y la empresa, sino que representan una iniciativa estratégica para crear una estructura de gobernanza más eficiente.
Origin Bancorp (NYSE: OBK)는 이사회를 16명에서 11명으로 줄이는 중대한 구조조정을 발표했습니다. Jay Dyer, Farrell Malone, Lori Sirman, Elizabeth Solender, Steve Taylor의 5명의 이사는 2025년 4월 23일로 예정된 주주총회에서 재선거를 신청하지 않을 것입니다.
이번 결정은 이사회 규모와 구성을 최적화하기 위한 지명 및 기업 거버넌스 위원회의 광범위한 연구에 따른 것으로, 거버넌스의 모범 사례에 맞춰 진행되었습니다. 재선거에 지명된 나머지 11명의 이사는 Daniel Chu, James D'Agostino Jr., James Davison Jr., A. La'Verne Edney, Meryl Farr, Richard Gallot Jr., Stacey Goff, Cecil Jones, Michael Jones, Gary Luffey, Drake Mills입니다.
회사는 이러한 변화가 퇴임하는 이사들과 회사 간의 불일치 때문이 아니라 보다 효율적인 거버넌스 구조를 만들기 위한 전략적 이니셔티브를 나타낸다고 강조했습니다.
Origin Bancorp (NYSE: OBK) a annoncé une restructuration significative de son conseil d'administration, réduisant le nombre de membres de 16 à 11. Cinq administrateurs - Jay Dyer, Farrell Malone, Lori Sirman, Elizabeth Solender et Steve Taylor - ne se représenteront pas aux élections lors de l'Assemblée Générale Annuelle des Actionnaires prévue le 23 avril 2025.
Cette décision fait suite à une étude approfondie menée par le Comité des Nominations et de la Gouvernance pour optimiser la taille et la composition du conseil, en conformité avec les meilleures pratiques de gouvernance. Les 11 administrateurs restants proposés pour l'élection incluent Daniel Chu, James D'Agostino Jr., James Davison Jr., A. La'Verne Edney, Meryl Farr, Richard Gallot Jr., Stacey Goff, Cecil Jones, Michael Jones, Gary Luffey et Drake Mills.
L'entreprise a souligné que ces changements ne sont pas dus à des désaccords entre les administrateurs sortants et l'entreprise, mais représentent plutôt une initiative stratégique pour créer une structure de gouvernance plus efficace.
Origin Bancorp (NYSE: OBK) hat eine bedeutende Umstrukturierung des Vorstands angekündigt und die Anzahl der Mitglieder des Vorstands von 16 auf 11 reduziert. Fünf Direktoren - Jay Dyer, Farrell Malone, Lori Sirman, Elizabeth Solender und Steve Taylor - werden sich nicht zur Wiederwahl bei der für den 23. April 2025 geplanten Jahreshauptversammlung der Aktionäre stellen.
Die Entscheidung folgt einer umfassenden Untersuchung des Nominierungs- und Governance-Ausschusses zur Optimierung der Größe und Zusammensetzung des Vorstands, um den besten Governance-Praktiken zu entsprechen. Die verbleibenden 11 Direktoren, die zur Wahl vorgeschlagen werden, sind Daniel Chu, James D'Agostino Jr., James Davison Jr., A. La'Verne Edney, Meryl Farr, Richard Gallot Jr., Stacey Goff, Cecil Jones, Michael Jones, Gary Luffey und Drake Mills.
Das Unternehmen betonte, dass diese Veränderungen nicht auf Meinungsverschiedenheiten zwischen den ausscheidenden Direktoren und dem Unternehmen zurückzuführen sind, sondern vielmehr eine strategische Initiative zur Schaffung einer effizienteren Governance-Struktur darstellen.
- Board size reduction from 16 to 11 improves corporate governance efficiency
- Strategic restructuring aligns with governance best practices
- Retained directors bring diverse expertise in banking, financial services, and risk management
- Loss of five experienced board members simultaneously
Company to Reduce Board Size, Further Enhancing Corporate Governance Profile
RUSTON, La., March 03, 2025 (GLOBE NEWSWIRE) -- Origin Bancorp, Inc. (NYSE: OBK) (“Origin”), the holding company for Origin Bank, today announced that five members of its Board of Directors will not stand for reelection at the 2025 Annual Meeting of Stockholders, decreasing the size of the Board from 16 to 11 directors. The Nominating and Corporate Governance Committee of the Board, including Origin’s lead independent director, has extensively studied the optimal Board size and composition in relation to the Company’s continued growth. Today’s announcement reflects the Board’s strategic initiative to reduce its size to better align with governance best practices. The five directors not standing for election are Jay Dyer, Farrell Malone, Lori Sirman, Elizabeth Solender and Steve Taylor.
“Each of these directors has made invaluable contributions to our Company and we are grateful for their service,” said Drake Mills, Chairman, President and CEO of Origin Bancorp, Inc. “Their expertise helped Origin through periods of significant transformation and growth. It is a credit to their stewardship that these directors each recognize that right-sizing the Board is in the Company’s best interests moving forward. On behalf of the entire organization, I’d like to thank them for their service to Origin and their guidance to our Board and management.”
Based on the recommendation of the Board’s Nominating and Corporate Governance Committee, the incumbent directors to be nominated for election at the 2025 Annual Meeting will be: Daniel Chu, James D’Agostino, Jr., James Davison, Jr., A. La’Verne Edney, Meryl Farr, Richard Gallot, Jr., Stacey Goff, Cecil Jones, Michael Jones, Gary Luffey and Drake Mills. The Company expects to hold its 2025 Annual Meeting on April 23, 2025.
Michael Jones, Chair of the Board’s Nominating and Corporate Governance Committee, added, “With these changes, we will have a smaller, more efficient Board of Directors, consistent with our commitment to best-in-class corporate governance. We have been intentional in the composition of a Board that will continue to be made up of highly qualified directors who each bring relevant backgrounds and skills to support management in driving the Company’s strategy and future growth, including experience in the banking and financial services industries as well as in executive leadership, strategic and financial planning, and risk management.”
The changes to the Board composition are not being made as a result of any disagreement between the departing directors and the Company.
About Origin
Origin Bancorp, Inc. is a financial holding company headquartered in Ruston, Louisiana. Origin’s wholly owned bank subsidiary, Origin Bank, was founded in 1912 in Choudrant, Louisiana. Deeply rooted in Origin’s history is a culture committed to providing personalized relationship banking to businesses, municipalities, and personal clients to enrich the lives of the people in the communities it serves. Origin provides a broad range of financial services and currently operates more than 55 locations in Dallas/Fort Worth, East Texas, Houston, North Louisiana, Mississippi, South Alabama and the Florida Panhandle. For more information, visit www.origin.bank.
Contact Information
Investor Relations
Chris Reigelman
318-497-3177
chris@origin.bank
Media Contact
Ryan Kilpatrick
318-232-7472
rkilpatrick@origin.bank
FAQ
Why is Origin Bancorp (OBK) reducing its board size from 16 to 11 members in 2025?
Which directors are leaving Origin Bancorp's (OBK) board in 2025?
When will Origin Bancorp (OBK) hold its 2025 Annual Meeting of Stockholders?
Are the departing directors leaving Origin Bancorp (OBK) due to disagreements with the company?
