WesBanco Completes Planned CEO Succession; President And CEO Todd F. Clossin And Senior Executive Vice President And COO Jeffrey H. Jackson Have Entered Into Amended And New Employment Agreements
Portfolio Pulse from Happy Mohamed
WesBanco, Inc. (NASDAQ:WSBC) has announced that President and CEO Todd F. Clossin and Senior Executive Vice President and COO Jeffrey H. Jackson have entered into new and amended employment agreements as part of the company's CEO succession plan. Clossin, who has served as CEO since 2014, will become a Vice Chairman of the company's Board of Directors effective August 1, 2023, and will retire on December 31, 2023. Jackson, who joined WesBanco in August 2022, will take over as CEO and has entered into a new three-year revolving term Employment Agreement.
July 21, 2023 | 12:32 pm
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WesBanco's CEO succession plan is now in place with Jeffrey H. Jackson set to take over from Todd F. Clossin at the end of 2023. This could bring a fresh perspective and new strategies to the company, potentially impacting its future performance.
CEO changes can have a significant impact on a company's direction and performance. While it's too early to predict the exact impact of this change, it's clear that it's a significant event for WesBanco. The new CEO, Jeffrey H. Jackson, has a successful track record and could bring new strategies and perspectives to the company. However, the impact on the stock price in the short term is uncertain as it will depend on investor sentiment and the market's perception of this change.
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