Business
German American Announces Chairman of the Board and President Transition
JASPER, Ind., May 22, 2023 (GLOBE NEWSWIRE) -- The Board of Directors for German American Bancorp, Inc. (GABC) announced next steps in leadership succession
About this update from German American Bancorp, Inc.
[{"type":"text","content":"JASPER, Ind., May 22, 2023 (GLOBE NEWSWIRE) -- The Board of Directors for German American Bancorp, Inc. (GABC) announced next steps in leadership succession by appointing current Director and Chief Executive Officer, Neil Dauby, to succeed retiring Mark Schroeder as Chairman of the Board, and Brad Rust as President for both the holding company and the bank. Tom Seger, lead director for GABC, stated “The Board, along with the entire GABC family, are extremely grateful to Mark for his longevity and dedicated service to German American. His board and executive leadership and strong counsel throughout his extensive career enabled the company to grow its footprint, product and service offerings, and employment base as the company grew from a small community bank to a regional financial services company serving banking, insurance and wealth management.” Mark Schroeder added, “I am grateful for the support of the board, executive and management teams, and the entire German American family throughout my career with the company. It’s satisfying to fully step down while knowing the strategy and vision of the board to transition the company’s leadership into the capable hands of Neil and Brad has been successful.” Mr. Dauby joined German American Bank in 2001. He served in various capacities as affiliate and regional president roles and corporate positions including Executive Vice President-Chief Commercial Banking Officer and President & Chief Operating Officer before becoming the Chief Executive Officer on January 1, 2022. Prior to joining German American, Mr. Dauby, a graduate of Western Kentucky University in Bowling Green, Kentucky, was a CPA with sixteen years of leadership experience with regional public accounting firms in various Kentucky markets, including Bowling Green and Owensboro, which are a part of German American’s footprint. In addition to being responsible for the overall vision, strategy and execution of the Company as CEO, Dauby will provide leadership, administration and oversight to the Board of Directors. Dauby states, “I am honored to be selected by the Board to succeed Mark Schroeder. Mark and I have worked together for over two decades building a great management team and building great value for our shareholders”. Mr. Rust joined German American in 1999 in connection with the Company’s merger with 1ST Bancorp of...