Webster Financial Says Glenn MacInnes Intends To Retire From His Role As Executive Vice President And CFO
Portfolio Pulse from Benzinga Newsdesk
Webster Financial announced that Glenn MacInnes plans to retire from his role as Executive Vice President and CFO. He will remain CFO until a successor is appointed and will then serve in an advisory role. Webster Financial has engaged Spencer Stuart for the search of the new CFO.
March 25, 2024 | 8:47 pm
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Glenn MacInnes, the CFO of Webster Financial, is set to retire. He will assist in the transition to a new CFO, with Spencer Stuart conducting the search.
The announcement of a CFO's retirement and the search for a successor is significant but not uncommon in corporate governance. While it may raise questions about financial leadership continuity, the structured transition plan and the involvement of a reputable search firm like Spencer Stuart mitigate immediate concerns. Therefore, the short-term impact on Webster Financial's stock is likely neutral, as investors will watch for the announcement of a new CFO.
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