Middlefield Banc Corp Tapped President Ronald L. Zimmerly, Jr. as CEO, Succeeding James R. Heslop Who Will Retire Effective January 1
Portfolio Pulse from Benzinga Newsdesk
Middlefield Banc Corp. (NASDAQ:MBCN) has appointed Ronald L. Zimmerly, Jr. as its new CEO, effective January 1, 2024. He will succeed James R. Heslop, II, who is retiring. Zimmerly is currently the President and Director of Middlefield and The Middlefield Banking Company. Heslop will also resign from the Board of Directors on December 31, 2023, and the Board will be reduced from 13 to 12 members.
November 14, 2023 | 1:00 pm
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Ronald L. Zimmerly, Jr. has been appointed as the new CEO of Middlefield Banc Corp., succeeding the retiring James R. Heslop, II, effective January 1, 2024. The Board will also be reduced in size.
CEO transitions are significant for companies but since the new CEO is an internal promotion, the impact may be neutral. The reduction in board size is a governance change but not likely to affect stock price in the short term.
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