BOSTON, Aug. 10, 2020 /PRNewswire/ -- Berkshire
Hills Bancorp, Inc. (NYSE: BHLB) the parent company of Berkshire
Bank, announced today that Richard M.
Marotta has stepped down from his position as President and
Chief Executive Officer of the Company and CEO of the Bank, as well
as from his role as a Director to pursue new opportunities. The
Bank's leadership succession planning process concluded with the
Board choosing Sean A. Gray, current
Senior Executive Vice President of the Company and President and
Chief Operating Officer of the Bank, to serve as Acting President
and CEO for the Company. The Board will initiate a CEO search
process to consider candidates inside and outside of Berkshire, and Mr. Gray will be a candidate in
that search process.
"On behalf of the entire Board, we are grateful for Richard's
dedication to the Bank during his tenure as CEO and over his entire
career of over 10 years with Berkshire. We wish him the best in all his
future endeavors," said J. Williar
Dunlaevy, Chairman of the Board of Berkshire Hills Bancorp.
"We have confidence in Sean Gray's
leadership ability, and we expect Berkshire to benefit from his deep
understanding of the Bank and his commitment to build on Richard's
legacy of an inclusive, innovative, and supportive culture. Sean
has strong relationships across the Bank as well as with key
external stakeholders and will be supported by a very strong
executive management team and a talented group of team
members."
"I am proud to have been part of the leadership team that
doubled the size of the Bank to $13.1
billion in assets, while overseeing the successful
integration of numerous bank acquisitions, and achieving targeted
merger efficiencies and market share retention," said Richard Marotta. "And as CEO, I am most proud to
have established and implemented the Bank's Be FIRST values, making
social responsibility an integral component of the Bank's identity
as a purpose driven 21st century community bank."
As CEO, in addition to the implementation of the Bank's Be FIRST
values, Mr. Marotta led the launch of Reevx Labs™, the
Bank's initiative for investment in local communities to help
individuals and small businesses access banking services and
capital. Under Mr. Marotta's tenure, the Bank expanded its outreach
to diverse communities, achieved greater diversity in its
executive/senior management ranks, and has been recognized as a
leader among its peers in Environmental, Social & Corporate
Governance rankings.
About Sean A. Gray
Mr. Gray has been President and Chief Operating Officer of
Berkshire Bank since November 2018,
and also served as Senior Executive Vice President of Berkshire
Hills Bancorp, Inc. from 2015. Prior to his appointment as Bank
President, he previously served as Senior Executive Vice President
and Chief Operating Officer of Berkshire Bank from 2015. Mr. Gray
joined Berkshire in 2007 as First
Vice President, Retail Banking and has held various positions
including Executive Vice President, Retail Banking. In addition to
his current management responsibilities, Mr. Gray has also overseen
Human Resources, Marketing, Investor Relations, and Facilities. He
also currently serves as President of Berkshire Bank Foundation.
Prior to joining the Bank, Mr. Gray was Vice President and Consumer
Market Manager at Bank of America in Waltham, Massachusetts.
About Berkshire –
Headquartered in Boston, Berkshire
Hills Bancorp is the parent of Berkshire Bank, with approximately
$13.1 billion in assets and operating
130 banking offices in seven Northeastern states. The Bank is
transforming into a 21st century community bank pursuing
purpose driven performance based on its Be FIRST corporate
responsibility culture. It provides business and consumer banking,
mortgage, wealth management, investment, and insurance services.
Berkshire Bank was awarded the Top Corporate Steward Citizens award
by the US Chamber of Commerce Foundation in 2019 for the small –
middle market business category. To learn more about the Bank,
visit www.berkshirebank.com, call 800–773–5601 or follow us on:
Facebook, Twitter, Instagram, and LinkedIn.
Investor Relations Contacts:
James Moses, CFO/SEVP
Email: jmoses@berkshirebank.com
Tel: (617) 641-9281
David Gonci, Capital Markets
Director
Email: dgonci@berkshirebank.com
Tel: (413) 281-1973
Media Contacts:
John Lovallo
Email: jlovallo@levick.com
Tel: (917) 612-8419
Cate Cronin
Email: ccronin@levick.com
Tel: (202) 738-7302
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SOURCE Berkshire Hills Bancorp, Inc.