Customers Bancorp CFO Carla Leibold terminated for cause; Philip Watkins named successor

Customers Bancorp, Inc.

Carla A. Leibold terminated as CFO on April 10, 2024 for violating Company policy; she disputes the characterization.
Philip Watkins promoted to CFO of Customers Bancorp, effective April 12, 2024.
Watkins had served as CFO of Customers Bank since January 2023 and joined the bank in January 2020.
No material changes to Watkins' compensation or new plans/grants in connection with the appointment.
Watkins previously served as CFO of Megalith Financial Acquisition Corp (NYSE: MFAC) until January 2021.

item 5.02

Executive movements

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Appointed

Philip Watkins

Chief Financial Officer of the Company

CUBI · Customers Bancorp, Inc.

Effective: 2024-04-12
Filed: April 12, 2024, 7:59 PM ET

On April 12, 2024, Customers Bancorp, Inc (the "Company"), the parent company of Customers Bank, promoted Philip Watkins to Chief Financial Officer of the Company.

Departed

Carla A. Leibold

Executive Vice President and Chief Financial Officer

CUBI · Customers Bancorp, Inc.

Effective: 2024-04-10
Successor: Philip Watkins
Filed: April 12, 2024, 7:59 PM ET

Ms. Leibold was notified of her termination from employment with the Company on April 10, 2024, for "cause" under her employment agreement for violating Company policy, which termination was effective immediately.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Philip Watkins was appointed as Chief Financial Officer of the Company at Customers Bancorp, Inc..

Action: promoted
Role: Chief Financial Officer of the Company

Exact text from the filing

On April 12, 2024, Customers Bancorp, Inc (the "Company"), the parent company of Customers Bank, promoted Philip Watkins to Chief Financial Officer of the Company.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Carla A. Leibold was terminated as Executive Vice President and Chief Financial Officer at Customers Bancorp, Inc..

Action: terminated
Role: Executive Vice President and Chief Financial Officer

Exact text from the filing

Ms. Leibold was notified of her termination from employment with the Company on April 10, 2024, for "cause" under her employment agreement for violating Company policy, which termination was effective immediately.

View on SEC.gov

Customers Bancorp, Inc. filing history →

Source: SEC EDGAR

accession 0001488813-24-000016

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