PITTSFIELD, Mass., June 30, 2014 /PRNewswire/ -- Berkshire Hills
Bancorp, Inc. (NYSE: BHLB) today announced that William J. Ryan has been appointed to its Board
of Directors as Chairman. Mr. Ryan was formerly Chairman of
the Board and CEO of TD Banknorth. The Company also announced
that Lawrence A. Bossidy has retired
from Berkshire's Board of
Directors. Mr. Bossidy has served as Berkshire's Lead Independent Director since
2012, and previously served as Chairman since 2002.
Berkshire's CEO Michael P. Daly stated, "I am very pleased that
Bill Ryan has joined us in the
position of independent Chairman which was previously held by
Larry Bossidy. We have
prospered under Larry's leadership and are grateful for his long
and distinguished service to the Company. With Bill, we
are joined by another outstanding business leader to serve in this
position. Under his leadership, the Banknorth team built a
strong, well-regarded, and high-performance New England banking
franchise. Bill and I share a vision of the attractive
prospects for a strong regional bank in our footprint and I look
forward to working with him to achieve this vision." Mr.
Bossidy added, "Mike's capable hand has guided us through recent
growth and this governance transition. I'm glad to have been
part of this growing franchise and I anticipate a bright future for
this team in delivering results to the markets and investors that
Berkshire serves. I look
forward to continuing as an investor and friend of this exceptional
organization."
Mr. Ryan commented, "I have been following the events of
Berkshire's growth and progress
for several years and have come to know and respect Mike Daly's leadership and strategic direction
in building the unique brand and culture of America's Most Exciting
Bank®. I truly was excited at his invitation to
take the position of independent Chair that Larry Bossidy commanded for so many years.
Berkshire's franchise is uniquely
positioned in regional markets that I know well. I'm
convinced that we will forge ahead to achieve our objectives to
gain market and wallet share, and to deliver high performance
financial results."
Mr. Ryan, 70, served as Chairman of the Board and CEO of TD
Banknorth Inc. from 1989 to March 2007. Banknorth was named
one of the "Best Managed Companies in America" by Forbes
Magazine in 2004. Mr. Ryan is a Director of Unum Group (a
leading employee benefit and disability insurance company) and has
served as Chair of Unum's Board since October 2011. He is
also a Director of Wellpoint, Inc. (a leading health benefits
company). Mr. Ryan is the majority owner of the Maine
Red Claws, an NBA Development League basketball team affiliated
with the Boston Celtics. He also serves as a trustee of the
Libra Foundation and serves on the board of advisors at the
University of New England.
BACKGROUND
Berkshire Hills Bancorp is the parent of Berkshire Bank –
America's Most Exciting Bank®. The Company has
$6.0 billion in assets and 90 full
service branch offices in Massachusetts, New
York, Connecticut, and
Vermont providing personal and
business banking, insurance, and wealth management
services.
FORWARD LOOKING STATEMENTS
This document contains forward-looking statements as defined in
the Private Securities Litigation Reform Act of 1995. There
are several factors that could cause actual results to differ
significantly from expectations described in the forward-looking
statements. For a discussion of such factors, please see
Berkshire's most recent report on
Forms 10-K and 10-Q filed with the Securities and Exchange
Commission and available on the SEC's website at www.sec.gov.
Berkshire does not undertake any
obligation to update forward-looking statements.
CONTACTS
Investor Relations Contact
Allison O'Rourke, Vice President - Investor
Relations; 413-236-3149
Media Contact
Ray
Smith, Assistant Vice President - Marketing;
413-236-3756
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SOURCE Berkshire Hills Bancorp, Inc.