First Community Announces Leadership Moves; Effective July 1, 2024, J. Ted Nissen Will Become The CEO Of First Community Bank While Still Retaining The Role Of President
Portfolio Pulse from Benzinga Newsdesk
First Community Corporation (FCCO) announced leadership changes at First Community Bank. J. Ted Nissen will become CEO of the bank while retaining his role as President and join the Board of Directors on July 1, 2024. Joseph A. 'Drew' Painter and Vaughan R. Dozier, Jr. will become Executive Vice Presidents as Co-Chief Commercial and Retail Banking Officers starting January 1, 2024. Michael C. 'Mike' Crapps remains President and CEO of First Community Corporation, focusing on governance and growth strategies.
December 14, 2023 | 2:16 pm
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First Community Corporation announced key leadership changes, with J. Ted Nissen becoming CEO of First Community Bank and joining the Board, and Painter and Dozier stepping up as EVPs. Michael C. Crapps continues as President and CEO of the Corporation.
Leadership changes often have a neutral short-term impact on stock prices as they reflect long-term strategic planning rather than immediate operational changes. However, the promotion of experienced insiders like Nissen, Painter, and Dozier, who are familiar with the company's culture and operations, could be viewed positively by investors. The continuity with Crapps remaining as President and CEO of the Corporation may also reassure investors about the stability of the company's leadership.
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