STAMFORD, Conn. - Webster Financial Corporation (NYSE:WBS), the parent company of Webster Bank and its HSA Bank division, announced today that Glenn MacInnes will retire from his role as Executive Vice President and Chief Financial Officer. MacInnes, who has been with the company for 13 years, will remain in his current position until a successor is appointed and will assist with the transition in an advisory capacity.
During his tenure, MacInnes played a pivotal role in Webster's transformation into a leading regional bank, known for its strong financial performance. He led several initiatives to enhance profitability and operational efficiency, positioning Webster for sustained value creation and client service.
John Ciulla, Chairman and CEO of Webster Financial Corporation, commended MacInnes for his contributions and expressed confidence in finding a qualified successor through a rigorous search process that includes both external and internal candidates. Richard O’Toole, Lead Independent Director and Chair of the Nominating and Corporate Governance Committee, also acknowledged MacInnes's dedication and service to the company.
MacInnes reflected on his time at Webster with pride, noting the company's evolution from a cost-focused transformation to a leading commercial bank with a solid capital position and risk management framework. He expressed his anticipation for the company's ongoing success and his commitment to supporting the new CFO's integration.
Webster has engaged Spencer Stuart, a premier executive search firm, to assist in finding the next CFO. This search is part of Webster's commitment to maintaining its strategic and financial initiatives.
Webster Financial Corporation, headquartered in Stamford, CT, operates as a commercial bank offering digital and traditional financial services. With assets exceeding $70 billion, Webster has a significant presence in the Northeastern U.S., providing commercial, consumer, and employee benefits solutions. The information about MacInnes's retirement is based on a press release statement from the company.
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