Community Trust Bancorp names Gooch Chairman, adds director Sandlin, approves 2024 incentive plans

COMMUNITY TRUST BANCORP INC /KY/

Mark Gooch (CEO) to become Chairman effective March 17, 2024; Crit Luallen appointed Vice Chairman and lead independent director.
Jeff Sandlin appointed independent director; will serve on Audit, Asset Quality, and Risk & Compliance committees.
James Draughn (EVP) to retire Jan 31, 2025; Thomas McCoy to assume his responsibilities.
NEOs received 2023 discretionary cash awards (e.g., Gooch $81,938) and long-term incentive payments (e.g., Gooch $220,500).
2024 incentive plans use base targets: ROAA 1.36%, EPS $4.40, net income $79.2M.

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