Business
Community Trust Bancorp, Inc. Announces Execution of Management Succession Plan
PIKEVILLE, Ky.--(BUSINESS WIRE)-- Community Trust Bancorp, Inc. (NASDAQ: CTBI), parent company of Community Trust Bank, Inc. and Community Trust and
About this update from Community Trust Bancorp, Inc.
[{"type":"text","content":" PIKEVILLE, Ky.--(BUSINESS WIRE)--\nCommunity Trust Bancorp, Inc. (NASDAQ: CTBI), parent company of Community Trust Bank, Inc. and Community Trust and Investment Company, with offices in Kentucky, West Virginia, and Tennessee, today announced that the Board of Directors have unanimously elected M. Lynn Parrish as Chairman of the Board of Community Trust Bancorp, Inc. In addition, Mark A. Gooch, current President, was elected as CEO and Vice Chairman of Community Trust Bancorp, Inc. and Chairman and CEO of Community Trust Bank, Inc. and Chairman of Community Trust and Investment Company; Richard W. “Rick” Newsom was elected President and member of the Board of Directors of Community Trust Bank, Inc.; David Tackett was elected Executive Vice President of Community Trust Bancorp, Inc. and President of the Eastern Region of Community Trust Bank, Inc.; Wayne Hancock was elected Secretary of Community Trust Bancorp, Inc.; and John “JR” Caldwell was elected Market President of Community Trust Bank, Inc. for Floyd, Johnson, and Knott Counties replacing Mr. Tackett. All of the above officer elections are effective on February 7, 2022, the date of the retirement of the current Chairman and CEO, Jean R. Hale, as previously announced in July 2021. These elections are representative of CTBI’s attention to strong succession management.\n\nMr. M. Lynn Parrish has served as lead independent director of Community Trust Bancorp, Inc. since January 25, 2005 and has been a member of the Board since 1993. Mr. Parrish is currently serving as Chairman of the Compensation Committee and is a member of the Audit and Asset Quality Committee, Nominating and Corporate Governance Committee, Executive Committee, and Risk and Compliance Committee. Mr. Parrish is a diversified entrepreneur having co-founded numerous companies involved in mineral development, engineering, software development, technology, and media. Mr. Parrish’s entrepreneur success is evidenced by the co-founding of Coal Mac in 1978, and its sale to a public company in 1989, and Knott Floyd Land Company, which Mr. Parrish served as Chairman and President prior to its acquisition by a private equity fund in 2006. Mr. Parrish, an active community leader, currently serves on the Boards of the Leadership Institute for School Principals, CEDAR, Inc., and Kentucky Workforce Innovation and the Board ...