Pathfinder Bancorp, Inc. Announces The Retirement Of Walter F. Rusnak As CFO, Effective June 28, 2024; Justin K. Bigham Named Successor
Portfolio Pulse from Benzinga Newsdesk
Pathfinder Bancorp, Inc. (PBHC) announced the retirement of CFO Walter F. Rusnak, effective June 28, 2024, and named Justin K. Bigham as his successor. Rusnak, who joined Pathfinder in 2015, will remain in an advisory role to ensure a smooth transition. His contributions have been pivotal in Pathfinder's strategic initiatives and growth, including a common stock offering in 2019 and the acquisition of the East Syracuse branch of Berkshire Bank.

May 08, 2024 | 9:49 pm
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Pathfinder Bancorp, Inc. announces CFO retirement and succession, highlighting strategic contributions to the company's growth.
The announcement of a CFO retirement and succession is a significant event for Pathfinder Bancorp, but given the planned and structured transition, it is unlikely to cause immediate volatility in the stock price. The emphasis on Rusnak's contributions to strategic growth and shareholder value, along with the appointment of a successor well in advance, suggests a stable transition and continuity in financial leadership, which is generally viewed positively by the market. However, as the transition date is quite far in the future, immediate stock price impact is expected to be neutral.
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