Press release
Alerus Financial Corporation Announces CEO Transition
Katie A. Lorenson to Succeed Randy L. Newman as President and Chief Executive Officer, Effective January 1, 2022 GRAND FORKS, N.D.--(BUSINESS WIRE)-- Alerus
About this update from Alerus Financial Corporation
[{"type":"text","content":"\nKatie A. Lorenson to Succeed Randy L. Newman as President and Chief Executive Officer, Effective January 1, 2022\n\n GRAND FORKS, N.D.--(BUSINESS WIRE)--\nAlerus Financial Corporation (Nasdaq: ALRS) (the “Company”) announced today that its Board of Directors appointed Katie A. Lorenson, the Company’s current Executive Vice President and Chief Financial Officer, as the Company’s next President and Chief Executive Officer, effective January 1, 2022. Ms. Lorenson will also join the Company’s Board of Directors upon assuming her new role. Randy L. Newman will transition to the role of Executive Chairman of the Board to ensure a seamless leadership transfer.\n\n“Katie is a proven leader and seasoned executive with a deep understanding and passion for our business,” said Chairman, President, and Chief Executive Officer Randy Newman. “Since Katie joined Alerus in 2017, she has been an indispensable strategic partner to me, our leadership team, and the Board of Directors. Katie brings relentless focus to executing our strategic plan and building our business, by attracting, retaining, and developing employees and growing the Company. She has a proven track record of leadership, successfully integrating acquisitions and aligning resources for growth. The Company is well-positioned for continued success, and I have full confidence that Katie will continue to advance our Company.”\n\nIn addition to serving as the Company’s Executive Vice President and Chief Financial Officer, Lorenson leads Alerus’ business segments, including banking, retirement and benefit services, wealth management, and mortgage. She also spearheaded Alerus’ initial public offering in 2019 and has played an integral role in the Company achieving consistently strong financial results since it began trading on the NASDAQ in September of 2019.\n\nLorenson brings extensive experience overseeing financial service organizations. Before joining Alerus in December 2017, she served as Chief Financial Officer for a publicly traded regional financial institution from 2015 to 2017 and as Chief Financial Officer for a large privately held financial institution from 2011 to 2015. Prior to her Chief Financial Officer roles, Ms. Lorenson served as Manager on the Financial Institutions Team for RSM US LLP.\n\n“I am deeply honored to have the opportunity to succeed Randy and lead Aler...