Business
WesBanco Completes Planned CEO Succession
Announces New Executive Employment Agreements WHEELING, W.Va., July 21, 2023 /PRNewswire/ -- WesBanco, Inc. (Nasdaq: WSBC), a diversified, multi-state bank
About this update from Wesbanco, Inc.
[{"type":"text","content":"Announces New Executive Employment Agreements\nWHEELING, W.Va., July 21, 2023 /PRNewswire/ -- WesBanco, Inc. (Nasdaq: WSBC), a diversified, multi-state bank holding company, announced today that President and Chief Executive Officer Todd F. Clossin and Senior Executive Vice President and Chief Operating Officer Jeffrey H. Jackson have entered into amended and new Employment Agreements respectively, which will become effective in conjunction with the company's previously announced CEO succession plan. \n\n \n \n \n \n \n \n\n \nMr. Jackson joined WesBanco in August 2022 as Senior Executive Vice President and Chief Operating Officer. Mr. Clossin has served as CEO since 2014. He has been appointed a Vice Chairman of the Company's Board of Directors effective August 1, 2023, and will continue to serve on its Board of Directors and Executive Committee upon his retirement on December 31, 2023.\nIn conjunction with the changes, Mr. Jackson entered into a new three-year revolving term Employment Agreement with WesBanco and was elected to the Board of Directors effective August 1, 2023. Mr. Clossin also entered into an Amendment to his current Employment Agreement, also effective August 1, 2023, which shortens the term of his current Employment Agreement to expire on December 31, 2023, changes his duties and title and consents to his retirement as an Executive Officer of the Company on December 31, 2023.\n\"On behalf of the Board of Directors, I want to thank Todd for his exceptional service to WesBanco during his tenure as CEO—a period that saw the Company nearly triple in assets through organic growth and acquisitions,\" said Christopher V. Criss, Chairman, WesBanco Board of Directors. \"Now, the Board is pleased to welcome Jeff to the CEO role to lead WesBanco into its next phase of growth. Having worked with Jeff closely over the past year, we are confident he will continue to build on the impressive foundation already established and serve WesBanco's customers, communities, employees and shareholders well.\"\n\"I am honored to lead this tremendous organization as we continue to advance our commitment to helping people, businesses and communities grow and achieve their financial goals. WesBanco has a rich legacy, and I look forward to working with the Board and our teams to build on our strong foundation, execute our strategic plans ...