BRIDGEPORT, Conn., June 26, 2018 /PRNewswire/ -- People's United
Financial, Inc., the holding company for People's United Bank,
N.A., has named Jack Barnes Chairman
of the Board for both People's United Financial, Inc. and People's
United Bank, N.A. Barnes will also remain CEO of both companies.
Concurrently, the independent members of the Board of Directors
unanimously agreed to appoint George
Carter, currently Chairman of the Board for both companies,
as Lead Director. The new appointments of Barnes and Carter are
part of a long-term strategic Board succession plan.
Barnes was named President and CEO of People's United on
July 22, 2010 and was also appointed
to the Board. He joined People's United Bank after an
accomplished 25 year career at
Chittenden Corporation, which was acquired in 2008 by People's
United. Barnes served as Senior Executive Vice President and Chief
Administrative Officer of People's United directly following the
acquisition. He is also the current Chairman of People's United
Community Foundation.
"Jack is uniquely qualified to take on this important role for
People's United," said Carter. "His demonstrated ability to
successfully lead the bank over the past eight years, combined with
his leadership qualities and knowledge of the business, make him
the perfect choice to lead the Board going forward. The Board of
Directors unanimously supported Jack's appointment to
Chairman."
"I want to thank George for his 42 years of serving as a Board
Member for People's United," said Barnes. "Given his experience and
tenure, I am highly confident he will ensure the same independent,
objective and effective oversight as Lead Director. George has a
unique long-term perspective of the bank and the many business
cycles we have gone through, and I look forward to continuing to
work closely with him in our new roles."
The former President of Connecticut Foods, Inc., Carter was
elected to the bank's Board of Directors in 1976, appointed
Chairman in 2007, and was also elected Chairman of People's United
Audit Committee in 2007 when the holding company was formed. He is
active in the community and also currently serves on the Board of
Directors of People's United Community Foundation and Bridgeport
Hospital, is a Chairman of the board of Trustees of United
Congregational Church, Co-founder and Honorary Director of Nourish
Bridgeport, and a past Trustee of Wakeman
Boys & Girls Club.
Additional information about the boards' actions, including the
Lead Director duties, is available on the company's current report
on Form 8-K, filed with the Securities and Exchange Commission.
About People's United Bank
People's United Bank, N.A.
is a subsidiary of People's United Financial, Inc. (NASDAQ: PBCT),
a diversified financial services company with $44 billion in assets. People's United Bank,
founded in 1842, is a premier, community-based, regional bank in
the Northeast offering commercial and retail banking, as well as
wealth management services through a network of nearly 400 retail
locations in Connecticut,
New York, Massachusetts, Vermont, New
Hampshire and Maine.
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SOURCE People's United Financial, Inc.