Business
Rockland Trust Company and Independent Bank Corp. Appoint Jeffrey J. Tengel as Chief Executive Officer
Accomplished commercial banker Tengel to take helm as Oddleifson retires after two decades as CEO ROCKLAND, Mass.--(BUSINESS WIRE)-- Rockland Trust Company
About this update from Independent Bank Corp.
[{"type":"text","content":"\nAccomplished commercial banker Tengel to take helm as Oddleifson retires after two decades as CEO\n\n ROCKLAND, Mass.--(BUSINESS WIRE)--\nRockland Trust Company and its bank holding company parent Independent Bank Corp. (NASDAQ Global Select Market: INDB) today announced the appointment of Jeffrey J. Tengel as the successor to current Chief Executive Officer, Christopher Oddleifson, effective on or about February 6, 2023.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230106005465/en/Jeffrey J. Tengel (Photo: Business Wire)\nOddleifson has served as the Bank’s CEO since 2003. Under his leadership, Rockland Trust has grown total assets from just over $2 billion to nearly $20 billion and expanded from its southeastern Massachusetts roots to a bank with over 120 retail branches, commercial and residential lending centers, and investment management offices.\n\n“What an honor it has been to serve as Rockland Trust’s CEO,” said Oddleifson. “After leading Rockland Trust for over twenty years, I have decided that the time has come to pass the baton. I am thrilled that our Board of Directors has selected a successor with the caliber of Jeff Tengel to guide Rockland Trust into the future.”\n\nThe appointment of Tengel is the culmination of a thoughtful, thorough CEO succession planning process that involved a nationwide search. A special committee of the Board, comprised of independent directors, oversaw CEO succession planning, assisted by a preeminent leadership consulting firm. Following Tengel’s formal appointment as CEO, Oddleifson will remain with Rockland Trust in an executive advisory role until the end of 2023.\n\n“On behalf of the Board of Directors, I thank Chris Oddleifson for establishing consistent, disciplined, outstanding performance over the last two decades,” said Donna L. Abelli, Chair of both the Independent and Rockland Trust Boards. “Our strategic direction is unchanged, and we are confident that Jeff Tengel will leverage his robust commercial banking experience and people-first leadership style to maintain Rockland Trust’s best-in-class culture and build on the organization’s solid foundation.”\n\nTengel most recently served as Senior Executive Vice President, Head of Commercial Specialty Banking at M&T Bank. Prior to M&T’s recent acquisition of People...