Leadership Transition at Norwood Financial Corp: Key Updates
Leadership Changes at Norwood Financial Corp
Norwood Financial Corp, a respected name in the financial sector, is experiencing a significant transition in its leadership team. Lewis J. Critelli has announced his retirement from the Board of Directors, marking the end of an era for the company and its subsidiary, Wayne Bank. His retirement took effect recently and has prompted a series of notable appointments within the Board.
Farewell to a Distinguished Leader
Mr. Critelli has expressed gratitude for the opportunity to serve shareholders, employees, and the broader community associated with Norwood Financial Corp. In his statement, he highlighted the accomplishments achieved during his tenure and conveyed his confidence in the company's future prospects under new leadership.
Jim Donnelly, the President and CEO of Wayne Bank, praised Critelli's contributions, noting the growth and strength of the organization during his leadership years. Critelli not only served as Chairman of the Board from 2022 but also spent a remarkable forty-year career in the banking industry, a feat that is commendable.
New Leadership Appointments
With Mr. Critelli's retirement, Dr. Andrew A. Forte has been appointed as the new Chairman of the Board. Dr. Forte brings a wealth of experience as the current Vice Chairman and is also the President of Forte, Inc., a company well-known in the hospitality sector. His academic background in management and extensive experience in accounting provide strong fiscal oversight for the bank.
Additionally, Kevin Lamont has been appointed as the new Vice Chairman, bringing with him a background from his time at North Penn Bancorp and valuable experience in business management. His leadership continues to advance the mission of Norwood Financial and Wayne Bank.
Welcoming New Board Members
In another significant development, the Board has welcomed Marissa Nacinovich, D.M.D., and James Shook as new members. Dr. Nacinovich is a dedicated dental professional known for her community service in Wayne County. Her involvement with local organizations underscores her commitment to enhancing community well-being, reflecting the values important to the bank's mission.
James Shook, an esteemed entrepreneur and public servant, has substantial experience managing Lake Region Supermarket and serving as Wayne County Commissioner. His accolades, including Retailer of the Year awards, highlight his successful career and deep-rooted connections to the community.
Commitment to Community and Growth
With these leadership changes, Norwood Financial Corp aims to leverage the expertise and dedication of its new board members. Jim Donnelly stated that their combined knowledge will fortify the bank's mission to serve the community and fulfill its growth objectives. The focus remains not just on improving financial performance but also on making a tangible positive impact in the communities they serve.
Looking to the Future
As Norwood Financial Corp navigates this leadership transition, the bank remains committed to upholding high standards of service. The future looks promising with a strengthened Board that is driven by a clear vision for growth and community engagement. Stakeholders can anticipate continued innovation and a dedication to quality service in the years ahead.
Frequently Asked Questions
Who announced their retirement from Norwood Financial Corp?
Lewis J. Critelli announced his retirement from the Board of Directors.
Who is the new Chairman of the Board?
Dr. Andrew A. Forte has been appointed as the new Chairman of the Board.
What roles do Marissa Nacinovich and James Shook hold?
Marissa Nacinovich and James Shook have recently been appointed to the Board of Directors.
What was Lewis Critelli's role before retirement?
Lewis Critelli served as the Chairman of the Board and was also the President and CEO of the company before his retirement.
What is the stock symbol for Norwood Financial Corp?
The company trades on Nasdaq under the symbol NWFL.
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