NBT Bancorp Says John H. Watt Will Step Down As President And CEO, Effective May 21, 2024; Promotes Scott A. Kingsley To Succeed Watt As President And CEO
Portfolio Pulse from Benzinga Newsdesk
NBT Bancorp announced that John H. Watt will step down as President and CEO on May 21, 2024. Scott A. Kingsley has been promoted to succeed Watt. Watt will continue to serve on the Board of Directors and will be named Vice Chairman in May. The succession plan was unanimously approved by NBT's Board of Directors after a 10-month process.
January 22, 2024 | 9:24 pm
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John H. Watt will resign as President and CEO of NBT Bancorp on May 21, 2024, with Scott A. Kingsley set to take over the roles. Watt will remain involved as Vice Chairman of the Board.
Leadership changes are significant for a company's strategy and operations, but since the transition is planned and appears to be well-structured, the immediate impact on NBTB's stock price is likely to be neutral. Investors typically view planned successions as a sign of stability, but the true impact will depend on Kingsley's strategic vision and execution.
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