Carver Bancorp CEO Michael Pugh to step down Sept 30; national search begins

CARVER BANCORP INC

CEO and President Michael T. Pugh resigns effective September 30, 2023; also leaves board.
Departure is to pursue professional and philanthropic interests, not a disagreement with company.
Board will conduct a national search for a permanent CEO; interim plan not disclosed.
Pugh joined Carver in 2012, became CEO in 2015; fifth CEO in bank's 75-year history.
No financial impact disclosed; operations continue under existing management.

item 5.02 item 9.01

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Departed

Michael T. Pugh

Chief Executive Officer and President

CARV · CARVER BANCORP INC

Effective: 2023-09-30
Filed: August 9, 2023, 7:59 PM ET

On August 6, 2023, Michael T. Pugh advised Carver Bancorp, Inc. (the “Company”) and Carver Federal Savings Bank (the “Bank”) that he: (1) was resigning as a director of both the Company and the Bank, effective September 30, 2023; and (2) was resigning his positions as Chief Executive Officer and President of the Company and the Bank, effective September 30, 2023.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Michael T. Pugh departed as Chief Executive Officer and President at CARVER BANCORP INC.

Action: resigning
Role: Chief Executive Officer and President

Exact text from the filing

On August 6, 2023, Michael T. Pugh advised Carver Bancorp, Inc. (the “Company”) and Carver Federal Savings Bank (the “Bank”) that he: (1) was resigning as a director of both the Company and the Bank, effective September 30, 2023; and (2) was resigning his positions as Chief Executive Officer and President of the Company and the Bank, effective September 30, 2023.

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Source: SEC EDGAR

accession 0001104659-23-089120

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