- Push-out Score determined
- After around 11 years in the position
- Accolades, praise and thanks for Holschbach
- Holschbach will remain as Vice Chairman at Midland
- Holschbach said 91 words
(exechange) — Effingham, Illinois, October 19, 2018 — Leon Holschbach, chief executive of Midland, hands over the reins. As announced by Midland States Bancorp, Inc. in a news release on Friday, October 19, 2018, Leon J. Holschbach leaves his post as Chief Executive Officer at the financial holding company after around 11 years in the role, effective December 31, 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 9.1 years, according to data compiled by exechange. Only 36 percent of the CEOs who departed over the past 12 months left the position after more than 10 years.
Leon Holschbach’s duties will be taken over by Jeffrey G. (Jeff) Ludwig, currently President of Midland States Bancorp, Inc.
Leon Holschbach’s departure from the CEO post is explained as follows. Midland said: “Consistent with the management succession plan established by the Board of Directors, upon Mr. Holschbach’s retirement, Jeffrey G. Ludwig will assume the role of Chief Executive Officer of Midland States Bancorp in addition to his current positions as President of the Company and Chief Executive Officer of Midland States Bank.”
Holschbach will remain as Vice Chairman at Midland
“Following his retirement from the CEO position, Mr. Holschbach will continue to serve as Vice Chairman of the Board of Directors of the Company and Midland States Bank,” Midland said.
Midland said: “Leon J. Holschbach will retire from his position as Chief Executive Officer of Midland States Bancorp, Inc. on December 31, 2018.”
Chaired by John M. Schultz
Midland States Bancorp, Inc. is chaired by John M. Schultz.
Schultz has served as the Chairman of the Company since 1986 and served as the Chairman of the Bank from 1986-2017.
In the position of CEO since 2007
Leon J. Holschbach has been the Chief Executive Officer of Midland States BanCorp, Inc. since August 2007 and served as its President since August 2007 until March 7, 2018.
Holschbach serves as the Vice Chairman, Chief Executive Officer and President of the Company and Vice Chairman of the Bank.
He has held these positions since August 2007, when he joined the Company.
Prior to August 2007, Holschbach held the positions of Region Market President, Community Bank Group at AMCORE Bank, N.A., from 2000 to 2007; President and Chief Executive Officer of AMCORE Bank North Central N.A. from 1997 to 2000; and President of Citizen’s State Bank in Clinton, Wisconsin, from 1979 to 1997.
Holschbach received his B.A. in Economics from the University of Wisconsin in 1975.