Peoples Financial CEO Craig Best to retire Dec 31; Gerard Champi named successor

PEOPLES FINANCIAL SERVICES CORP.

CEO Craig Best to resign Dec 31, 2024; severance of $1.19M paid over 24 months.
Gerard Champi (President) succeeds as CEO; Thomas Tulaney (COO) becomes President.
Board reduces from 16 to 15 directors upon Best's resignation.
Departure accelerated after successful Oct 15 system conversion; merger integration on track.
Severance includes COBRA premiums for 24 months and $30K outplacement.

item 5.02 item 8.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change

Gerard A. Champi

Chief Executive Officer

PFIS · PEOPLES FINANCIAL SERVICES CORP.

Effective: 2024-12-31
Filed: October 25, 2024, 7:59 PM ET

Gerard A. Champi, President of Peoples and Peoples Bank, will succeed Mr. Best as Chief Executive Officer of Peoples and Peoples Bank, and principal executive officer of Peoples.

Departed

Craig W. Best

Chief Executive Officer

PFIS · PEOPLES FINANCIAL SERVICES CORP.

Effective: 2024-12-31
Successor: Gerard A. Champi
Filed: October 25, 2024, 7:59 PM ET

Mr. Best will resign from his positions as Chief Executive Officer and director of Peoples and Peoples Bank effective as of December 31, 2024.

Role change

Thomas P. Tulaney

President

PFIS · PEOPLES FINANCIAL SERVICES CORP.

Effective: 2024-12-31
Filed: October 25, 2024, 7:59 PM ET

Thomas P. Tulaney, Chief Operating Officer of the Company and the Bank, will succeed Mr. Champi as President of Peoples and Peoples Bank.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Gerard A. Champi was appointed as Chief Executive Officer at PEOPLES FINANCIAL SERVICES CORP..

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

Gerard A. Champi, President of Peoples and Peoples Bank, will succeed Mr. Best as Chief Executive Officer of Peoples and Peoples Bank, and principal executive officer of Peoples.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Craig W. Best resigned as Chief Executive Officer at PEOPLES FINANCIAL SERVICES CORP..

Action: resigned
Role: Chief Executive Officer

Exact text from the filing

Mr. Best will resign from his positions as Chief Executive Officer and director of Peoples and Peoples Bank effective as of December 31, 2024.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Thomas P. Tulaney was appointed as President at PEOPLES FINANCIAL SERVICES CORP..

Action: appointed
Role: President

Exact text from the filing

Thomas P. Tulaney, Chief Operating Officer of the Company and the Bank, will succeed Mr. Champi as President of Peoples and Peoples Bank.

View on SEC.gov

PEOPLES FINANCIAL SERVICES CORP. filing history →

Source: SEC EDGAR

accession 0001104659-24-111515

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