- Push-out Score determined
- After 12 years in the position
- Accolades, praise, thanks and good wishes for Wilson
- Jerry Plush taking over
- Wilson said 122 words
(exechange) — Coral Gables, Florida, January 21, 2021 — Millar Wilson, chief executive of Amerant, leaves. As announced by Amerant Bancorp Inc. in a news release and in a regulatory filing published on Thursday, January 21, 2021, Millar Wilson leaves his post as chief executive officer of the bank holding company after 12 years in the role, effective the day after Amerant files its 2020 Annual Report on Form 10-K, anticipated in March.
Millar Wilson’s duties as CEO will be taken over by Gerald P. (Jerry) Plush, currently Partner of Patriot Financial Partners, L.P.
Already a director
Plush is already a director of Amerant. Directors-turned-executives represent a blend of outsider and insider.
Having been a director, Plush understands the expectations and dynamics of the board and has knowledge of Amerant’s organization, risk-management practices and strategy.
No reason given
In the announcement, Amerant did not explicitly explain the reason for Millar Wilson’s move, leaving room for speculation.
Precise information regarding Millar Wilson’s future plans was not immediately available.
Amerant said: “On January 14, 2021, Millar Wilson, the Company’s Vice-Chairman and Chief Executive Officer, advised the Board of Directors (the “Company Board”) of Amerant Bancorp Inc. (the “Company”) that he will retire from his roles as Vice Chairman and Chief Executive Officer of the Company and Amerant Bank, N.A., a wholly owned subsidiary of the Company (the “Bank”).”
Share price decline since January 2020
The announcement follows a decline in Amerant Bancorp Inc.’s share price of 31% since January 2020.
Chaired by Frederick C. Copeland, Jr.
Frederick C. Copeland, Jr. serves as Amerant Bancorp Inc.’s Chairman.
Copeland has served as Chairman of the board of directors of Amerant Bancorp, Inc. and Amerant Bank, N.A. since 2018. He has been as a director of Amerant Bancorp, Inc. and Amerant Bank, N.A. since 2007.
In the position of CEO since 2009
Millar Wilson became CEO of the Company in 2009.
Upon the filing of the Company’s 2020 Annual Report on Form 10-K, Wilson will formally retire and will remain as a member of the Board of Directors thereafter and as a consultant to the Company through the end of 2021 to support the transition.
Wilson has served as Chief Executive Officer of the Company and the Bank since 2009 and as the Vice-Chairman of the Board and the board of directors of the Bank since 2013 and as a director since 1987.
Under his leadership, the Bank has grown to $8 billion in assets, achieved a continuous upward trend in net income, and enhanced both the banking center network and product offerings to steadily increase lending and deposits.
Wilson served in various roles with Mercantil Servicios Financieros (“MSF or the Company’s “Former Parent”) for over 40 years, including as Executive Director of International Business of MSF from 2013 until January 2018.
Wilson served as a member of the board of directors of the Federal Reserve Bank of Atlanta, Miami Branch from 2013 to 2018, as a member of the board of directors of Enterprise Florida, Inc. from 2009 to 2013, as chairman of the board of directors of the American Red Cross of Greater Miami and the Keys from 2001 to 2002, and as a director and treasurer of the Miami Dade College Foundation from 1999 to 2004.
Wilson is a graduate of Bradford University, England and the Harvard Business School Management Development Program.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Millar Wilson’s move on a scale of 0 to 10.
exechange reached out to Amerant and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 4.2021 ($).