Ameris CEO Ed Hortman hands over to Dennis Zember

  • Push-out Score determined
  • After almost 14 years in the position
  • Praise for Hortman
  • Hortman made a lengthy statement and said 71 words

(exechange) — Moultrie, Georgia, June 6, 2018 — Ed Hortman, chief executive of Ameris, hands over the reins. It is a change at short notice. As announced by Ameris Bancorp in a news release and in a regulatory filing published on Wednesday, June 6, 2018, Edwin W. (Ed) Hortman leaves his post as Chief Executive Officer at the parent company of Ameris Bank after almost 14 years in the role, effective July 5, 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 9.5 years, according to data compiled by exechange. Only 39 percent of the CEOs who departed over the past 12 months left the position after more than 10 years.

Hortman’s duties will be taken over by Dennis J. Zember, currently Chief Operating Officer of Ameris Bancorp.

“Succession planning”

Hortman’s imminent departure from the CEO post is explained as follows. Hortman said: “Our Company has been working on succession planning for several years.”

Precise information about Hortman’s future plans was not immediately available.

“Retirement”

Ameris said: “[E]ffective as of July 5, 2018, Edwin W. Hortman, Jr., the Company’s Executive Chairman, President and Chief Executive Officer, would be succeeded as President and Chief Executive Officer by Dennis J. Zember Jr., who currently serves as Executive Vice President and Chief Operating Officer of the Company and Chief Executive Officer of Ameris Bank, the Company’s banking subsidiary.”

Hortman will continue to serve as Executive Chairman of the Company and Ameris Bank until his retirement date of September 4, 2018.

Share price rise since March 2009

The change follows a rise in the share price of Ameris Bancorp since March 2009.

In the position of CEO since 2005

Edwin W. Hortman, Jr., has served as Chief Executive Officer and President at Ameris Bancorp since January 1, 2005 and November 2003 respectively.

Edwin W. Hortman, Jr. has served as a director of the Company since November 2003 and as a director of the Bank since February 2006.

He has served as Executive Chairman of both the Company and the Bank since January 2018. Hortman has also served as President and Chief Executive Officer of the Company since January 2005.

From November 2003 through December 2004, he served as President and Chief Operating Officer of the Company, and from 2002 to 2003, he served as Executive Vice President and North Regional Executive of the Company.

From 1998 through 2003, Hortman served as President and Chief Executive Officer of Citizens Security Bank, formerly a wholly owned subsidiary of the Company.

Hortman also served as a director of Citizens Security Bank from 1998 to 2004.

In addition, he served as a director of Central Bank & Trust, Southland Bank, First National Bank of South Georgia and Merchants & Farmers Bank, formerly wholly owned subsidiaries of the Company, from 2002 to 2004.

Hortman also serves as Chairman of the Georgia Bankers Association Insurance Trust.

He holds bachelor’s and master’s degrees in business administration, with emphasis in accounting and finance, from the University of Georgia.

He is also a graduate of the Graduate School of Banking of the South at Louisiana State University.

Hortman will continue to serve as Executive Chairman of the Company and Ameris Bank until his retirement date of September 4, 2018.

Push-out Score determined
Read the full story in the exechange report 24.2018 ($).