BOSTON, Aug. 25, 2021 /PRNewswire/ -- Berkshire Hills
Bancorp, Inc. (NYSE: BHLB), announced today that Board Chairperson
J. Williar ("Bill") Dunlaevy will
retire from the joint Board of Directors of the company and its
wholly-owned subsidiary Berkshire Bank effective September 22, 2021. As part of a pre-established
succession plan, the Board has unanimously voted to appoint
David M. Brunelle to succeed Mr.
Dunlaevy as Chairperson, also effective on that date. Mr. Brunelle
currently serves as Vice Chairperson of the Board and previously
served as Chairperson of the Audit Committee after joining the
Board in 2017. In addition, the Board has voted to elect
Jeffrey W. Kip, Chief Executive
Officer of Angi International, to the Board of Directors of BHLB
and Berkshire Bank to fill the vacancy created by Mr. Dunlaevy's
retirement and has designated him as an Audit Committee Financial
Expert. In addition to the Audit Committee, Mr. Kip has also been
appointed to the Board's Compensation Committee.
"It has been an honor to lead the Berkshire Hills Bancorp Board
over the last two years, working closely with the Board and
management team to improve our performance and affirm our
commitment to purpose-driven, community-dedicated banking. With our
new CEO and revitalized management team in place, the strength of
our Board and our Berkshire's
Exciting Strategic Transformation (BEST) plan, the Company is well
positioned for the future. As I retire from the Board, I have great
confidence that Dave Brunelle will
continue to bring valuable insights, high ethical standards and
strong leadership that will help management achieve the BEST plan
and deliver meaningful returns for our shareholders and resources
for our communities," said Dunlaevy.
"On behalf of the Board and the Company's many stakeholders, I
want to thank Bill for his longstanding commitment, service and
dedication to Berkshire. In his
ten years on the Board and past two as Chairperson, he has helped
guide Berkshire through numerous
strategic decisions always with a keen focus on fulfilling our
mission and enhancing stakeholder value," said Nitin J. Mhatre CEO
of Berkshire. "As Bill retires
from the Board, we are fortunate to have Dave step into the role of
Chairperson. He understands our business, our culture, commitment
to our communities and focus on improving financial performance
through our Berkshire's Exciting
Strategic Transformation (BEST) plan. He is the ideal person to be
leading the Board as we move purposefully forward."
"I look forward to continuing to work with the Board and
leadership team to execute on our BEST plan as we strive to
deliver improved financial performance and
best-in-class customer experience as the leading socially
responsible community bank," stated Mr. Brunelle. "I also want to
thank Bill for his mentorship and extend a warm welcome to
Jeff Kip as he joins the Board and
brings his many years of financial acumen and senior executive
experience."
DAVID M. BRUNELLE
Mr.
Brunelle, age 50, is Co-Founder and Managing Director of North
Pointe Wealth Management in Worcester,
Massachusetts. He has over 20 years of experience in
financial services working with businesses, individuals, families
and charitable foundations. Mr. Brunelle is a former Director of
Commerce Bancshares Corp. and Commerce Bank & Trust Company and
served on Commerce's audit and loan committees. He joined
Berkshire's Board in 2017 when
Berkshire acquired
Commerce. He has also served as trustee or corporator
for numerous non-profit entities in and around Worcester, including The Nativity School of
Worcester, The Worcester Regional
Research Bureau, The Worcester Educational Development Foundation,
the UMass/Memorial Foundation, Becker
College and the Greater Worcester Community Foundation. Mr.
Brunelle holds a Bachelors degree from Colgate
University.
JEFFREY W. KIP
Mr.
Kip, age 53, is Chief Executive Officer of Angi International
which provides internet tools and resources for home improvement,
maintenance, and repair projects. Angi International is a
subsidiary of IAC/InterActive Corp (NASDAQ: IAC), which owns and
manages popular online brands and services. Prior to his role
as Chief Executive Officer, Mr. Kip was the Chief Financial Officer
of IAC/InterActive Corp from 2012-2016. Mr. Kip's previous
positions include Chief Financial Officer of Panera Bread, LLC from
2006 – 2012. Mr. Kip will be considered an independent director,
and the Board of Directors has determined that Mr. Kip will qualify
as an Audit Committee Financial Expert under the rules of the
Securities and Exchange Commission.
ABOUT BERKSHIRE HILLS
BANCORP
Berkshire Hills Bancorp is the parent of Berkshire
Bank, which is transforming what it means to bank its neighbors
socially, humanly and digitally to empower the financial potential
of people, families and businesses in its communities as it pursues
its vision of being the leading socially responsible omni-channel
community bank in the markets it serves. Headquartered in
Boston, Berkshire has $12.3
billion in assets and operates 115 banking offices primarily
in New England and New York.
FORWARD-LOOKING STATEMENTS
This document contains
"forward-looking statements" within the meaning of section 27A of
the Securities Act of 1933, as amended, and section 21E of the
Securities Exchange Act of 1934, as amended. You can identify these
statements from the use of the words "may," "will," "should,"
"could," "would," "plan," "potential," "estimate," "project,"
"believe," "intend," "anticipate," "expect," "target" and similar
expressions. There are many 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
reports 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.
INVESTOR RELATIONS
CONTACTS
|
MEDIA
CONTACT
|
Investor Relations
Contacts
Kevin Conn, SVP,
Investor Relations & Corporate Development
Email:
KAConn@berkshirebank.com
Tel: (617)
641-9206
David Gonci, Capital
Markets Director
Email:
dgonci@berkshirebank.com
Tel: (413)
281-1973
|
Gary Levante, SVP,
Corporate Responsibility & Culture
Email: glevante@berkshirebank.com
Tel: (413)
447-1737
|
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SOURCE Berkshire Hills Bancorp, Inc.