DCB Financial Corp.’s chief executive officer, Ronald J. Seiffert, has been elected chairman by the company’s board of directors.
He succeeds Vicki J. Lewis.
DCB Financial is the parent holding company of the Delaware County Bank & Trust Co.
“Ron’s strategic vision and his ability to execute have been instrumental in the significant transformation of the company’s financial performance and the growth in shareholder value that has occurred over the past four years,” said Lewis in a prepared statement. “The board strongly supports the strategy that Ron has set to achieve our shared objective of becoming a high-performing financial institution, and, after careful deliberation, has decided that this corporate governance structure is best suited to achieve this objective.”
Directors also elected Lewis as lead independent director whose duties will include:
• Presiding at all meetings of the board of directors at which Seiffert is not present, including executive sessions of the directors.
• Calling meetings of the directors.
• Serving as a liaison between Seiffert and directors.
• Consulting with the chairman on meeting agendas and information sent to the board of directors.
“On behalf of our board of directors and the senior management team, I would like to thank Vicki for her strong leadership in successfully navigating the company through its recovery and early growth phase, and I look forward to continuing to work with her and the other directors in building a high-performing community bank grounded in sound corporate governance principles,” Seiffert said.
Seiffert became CEO and a member of the board of directors on Sept. 29, 2011.