---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-111515"
form_type: "8-K"
ticker: "PFIS"
cik: "0001056943"
company_name: "PEOPLES FINANCIAL SERVICES CORP."
filed_at: "2024-10-25T23:59:59+00:00"
generated_at: "2026-05-30T09:56:45.749418+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-24-111515
- form_type: 8-K
- ticker: PFIS
- cik: 0001056943
- company_name: PEOPLES FINANCIAL SERVICES CORP.
- filed_at: 2024-10-25T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1056943/000110465924111515/0001104659-24-111515-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1056943/000110465924111515/tm2426857d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-111515
- JSON: https://secwatch.observer/filing/0001104659-24-111515.json
- Plain text: https://secwatch.observer/filing/0001104659-24-111515.txt

## Key facts
- Executive change
  Gerard A. Champi was appointed as Chief Executive Officer at PEOPLES FINANCIAL SERVICES CORP..
  - Action: appointed
  - Role: Chief Executive Officer
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1056943/000110465924111515/0001104659-24-111515-index.htm
- Executive change
  Craig W. Best resigned as Chief Executive Officer at PEOPLES FINANCIAL SERVICES CORP..
  - Action: resigned
  - Role: Chief Executive Officer
  source text: Mr. Best will resign from his positions as Chief Executive Officer and director of Peoples and Peoples Bank effective as of December 31, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1056943/000110465924111515/0001104659-24-111515-index.htm
- Executive change
  Thomas P. Tulaney was appointed as President at PEOPLES FINANCIAL SERVICES CORP..
  - Action: appointed
  - Role: President
  source text: Thomas P. Tulaney, Chief Operating Officer of the Company and the Bank, will succeed Mr. Champi as President of Peoples and Peoples Bank.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1056943/000110465924111515/0001104659-24-111515-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.