- After 30 years in the position
- Accolades and praise for Tallent
- Tallent will remain as Executive Chairman at United
- Tallent spoke at length and said 109 words
(exechange) — Blairsville, Georgia, April 3, 2018 — Jimmy Tallent, chief executive of United, hands over the reins. As announced by United Community Banks, Inc. in a news release published on Monday, April 2, 2018 and in a regulatory filing published on Tuesday, April 3, 2018, Jimmy Carl Tallent leaves his post as Chief Executive Officer at the bank holding company after 30 years in the position, effective June 30, 2018.
It is the end of an era.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CEOs who departed over the past 12 months was 9.4 years, according to data compiled by exechange. Only 11 percent of the CEOs who departed over the past 12 months left the position after more than 20 years.
Tallent’s duties will be taken over by Herbert Lynn Harton, currently Chief Executive Officer of United’s banking subsidiary.
“The time is right for me to reduce my role”
Tallent’s departure from the CEO post is explained as follows. Tallent said: “Lynn has done an excellent job as Chief Executive Officer of the Bank, and the time is right for me to reduce my role.”
Tallent will remain as Executive Chairman at United
“Mr. Tallent will move into a new role as Executive Chairman of United’s Board of Directors,” United said.
United said: “[A]fter almost 35 years of service, its Chief Executive Officer, Jimmy Tallent, will retire from his current position effective June 30, 2018.”
Share price rise since July 2012
The change follows a rise in the share price of United Community Banks, Inc. since July 2012.
In the position of CEO since 1988
Tallent currently serves as Chairman and Chief Executive Officer of United and as Chairman of the Bank.
Tallent has served as Chief Executive Officer of United from the time it was formed in 1988 and has served as Chairman of the Board since February 2015.
Tallent served as Chief Executive Officer of United’s wholly-owned subsidiary, United Community Bank, from 1984 through August 2017 at which time Harton was named his successor.
Under Tallent’s leadership, United has grown from a small, one-branch banking operation in the rural community of Blairsville, Georgia to the third largest bank holding company headquartered in Georgia with a footprint covering four states in the Southeast.
Tallent is a member of the board of directors of Georgia Power, the largest subsidiary of Southern Company, the Georgia Chamber of Commerce and serves as a Trustee of Young Harris College.
He is a former member of the State Board for the Georgia Department of Technical and Adult Education and the Global Health Action board of directors.
Tallent has also served as the Georgia State YMCA Finance Chairman.
Tallent’s many professional accomplishments include being honored with the Georgia Economic Developers Association’s Spirit of Georgia Award, which was presented to Tallent in 1999.
This award is presented annually to a Georgia business executive who has demonstrated superior ability, originality, potential impact and courage in business development.
In 2007, Tallent was honored with the Ernst & Young Entrepreneur of the Year Award for Financial Services in the Alabama/Georgia/Tennessee region.
Tallent attended Young Harris College and Piedmont College and is a graduate of the Georgia Banking School.
As Chairman and Chief Executive Officer of United and Chairman of the Bank, Tallent is one of two officers serving on the Company’s Board.
As Executive Chairman, Tallent will continue to focus on board governance, strategic planning, and corporate development.
Read the full story in the exechange report 15.2018 ($).