BRIDGEPORT, Conn., April 16, 2014 /PRNewswire/ -- People's United
Financial, Inc. (NASDAQ: PBCT) announced today that Chief Financial
Officer Kirk Walters is
transitioning out of his role as Chief Financial Officer of
People's United Bank for family reasons. David Rosato, who has served as Treasurer since
2007, will succeed Walters as Chief Financial Officer of the
bank. Both changes are effective immediately.
Walters will continue to serve as Chief Financial Officer of
People's United Financial, Inc., the bank's holding company,
through December 31, 2014, when
Rosato is expected to assume that position. Walters will remain an
executive officer, transitioning as of January 1, 2015 to the role of Senior Executive
Vice President, Corporate Development and Strategic Planning.
He will also remain a member of the Board of Directors of the
company and the bank.
"For the past year Kirk has successfully managed the intense
responsibilities of his role as Chief Financial Officer and
director of this company as well as challenging family health
issues," said Jack Barnes, Chief
Executive Officer of People's United. "Today, we are announcing an
orderly transition executed according to our corporate succession
plan, which demonstrates our bench strength," Barnes said.
"Importantly, Kirk will transition to the new role of Senior
Executive Vice President, Corporate Development and Strategic
Planning and will report directly to me as a member of the
Management Committee," Barnes added. "We are fortunate that Kirk
will continue to contribute to the company in a role that will
leverage his broad experience in the industry and deep operational
expertise. We are equally pleased that David, who has contributed
significantly to the bank as Treasurer and brings over 25 years of
experience in banking, is well-prepared to step up to the role of
the bank's CFO."
As part of the transition, Michael
Ciborowski, who has been with People's United for 20 years
and has been a long-time leader within the Treasury group, will
become Senior Vice President and Treasurer for both the company and
the bank.
People's United Bank is a subsidiary of People's United
Financial, Inc., a diversified financial services company with
$33 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
406 retail locations in Connecticut, New
York, Massachusetts,
Vermont, New Hampshire and Maine. Visit us at peoples.com.
People's United Bank. "What know-how can
do." SM
SOURCE People's United Financial, Inc.