Business
Wesbanco Announces Planned CEO Succession Date
Timeline reflects strong progress in transitioning successor to role WHEELING, W.Va., May 16, 2023 /PRNewswire/ -- Wesbanco, Inc. (Nasdaq: WSBC), a
About this update from Wesbanco, Inc.
[{"type":"text","content":"Timeline reflects strong progress in transitioning successor to role \nWHEELING, W.Va., May 16, 2023 /PRNewswire/ -- Wesbanco, Inc. (Nasdaq: WSBC), a diversified, multi-state bank holding company, announced today that Chief Executive Officer Todd F. Clossin will be retiring as President and CEO, effective August 1, 2023. As planned, Senior Executive Vice President and Chief Operating Officer Jeffrey H. Jackson will succeed him as President and CEO. Previously, Mr. Clossin had announced an anticipated retirement date of January 1, 2024. The August 1 transition date reflects Mr. Jackson's timely and successful acclimation to the business and aligns with his first anniversary with the company.\n\n \n \n \n \n \n \n\n \n\"The executive management team and I have worked closely with Jeff in every aspect of the business for nearly a year, and he is well-prepared to take the helm. With him and the company in a strong position, I have decided the time is right to retire,\" said Mr. Clossin. \"It has been a privilege and an honor to lead this organization for the past ten years, and I am confident that Wesbanco will continue to thrive under Jeff's leadership.\"\n\"I am honored to lead Wesbanco, and I look forward to succeeding Todd in August and building on the impressive foundation he has established,\" said Mr. Jackson. \"Since joining the organization nearly a year ago, it has been clear that Wesbanco has a talented and experienced leadership team and a strong, customer-focused culture. I am excited to work with the entire team in the CEO role to drive Wesbanco's continued success for our customers, shareholders and employees.\"\nMr. Jackson joined Wesbanco in August 2022 after a successful career with First Horizon Bank. In the three quarters since his hiring, Wesbanco has delivered solid financial performance as demonstrated by loan growth, maintained key credit quality metrics at low levels favorable to peer bank averages and remained well-capitalized with solid liquidity and a strong balance sheet. Mr. Jackson's contributions include new capabilities and strategies around fee-based services that are intended to strengthen Wesbanco's diversified earnings streams for continued success.\nDuring his 14 years with First Horizon, Mr. Jackson held roles of increasing responsibility, most recently as Executive Vice President and Chief Ope...