George Carter is stepping down as chairman of People’s United Financial, with the company naming CEO Jack Barnes to lead the board of directors. Carter, 81 as of March, will remain lead director for People’s United, with the company having waived a mandatory retirement last year under corporate bylaws establishing a maximum age for directors. Carter has been on the People’s United board for 42 years, having formerly led Connecticut Foods as president, with People’s United compensating him $350,000 last year for his work on the board. Barnes became CEO of People’s United in July 2010, having previously worked 25 years for Vermont-based Chittenden Corp., which People’s United acquired in 2008. Alex.Soule@scni.
from Business https://www.ctpost.com/business/article/Bridgeport-bank-elevates-CEO-to-board-chair-13027055.php
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