BRENTWOOD, TENN., June 6, 2017 – Forty-eight percent of bank executives and directors say their bank does not have a successor identified to replace the chief executive officer when the top executive retires or leaves, according to Bank Director’s 2017 Compensation Survey, sponsored by Compensation Advisors, a member of Meyer-Chatfield Group. The median age for bank CEOs is 57 years.
The survey was conducted in March and April of 2017, and polled 286 independent directors and senior executives of U.S. banks. Compensation data was also collected from the proxy statements of 108 publicly traded financial institutions to provide detailed information on CEO and board compensation packages.
Twenty-nine percent of the respondents expect the CEO of their bank to retire within the next five years. Banks below $5 billion in assets are less likely to have designated a successor or identified potential successors.
Other key findings include:
Full survey results are available online at BankDirector.com, and will be featured in the 3rd quarter 2017 issue of Bank Director magazine.
ABOUT BANK DIRECTOR
Since 1991, Bank Director has served as a leading information resource for the directors and officers of financial institutions. Through its print and digital editions of Bank Director magazine, executive-level research, annual conferences and its website, BankDirector.com, Bank Director reaches the leaders of the institutions that comprise America’s banking industry. Bank Director is headquartered in Brentwood, Tennessee.
ABOUT COMPENSATION ADVISORS
Compensation Advisors, a member of Meyer-Chatfield Group, has served the community banking industry providing guidance on the latest compensation and hiring developments. As benefit experts they convey insightful strategies and solutions to help retain, recruit and reward critical talent at all levels. Simply put, they find solutions others miss. Compensation Advisors works with financial institutions across the United States delivering: Executive and Director Compensation Reviews, Pay-for-Performance Incentive Plan Structures, Equity Allocation Plans, Benefit Plan Designs, Base Salary Reviews (company-wide), Risk Assessments, Regulatory Updates and Compensation Committee Governance. Visit the website at www.compensationadvisors.com.
Contact: Michelle King, chief brand officer, (615) 777-8465, firstname.lastname@example.org
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