- Push-out Score determined
- After about 23 years in the position
- Accolades and praise for Hale
- Mark Gooch taking over
- Hale said 71 words
(exechange) — Pikeville, Kentucky, July 28, 2021 — Jean Hale, chief executive of Community Trust Bancorp, leaves her post. Her departure is made public at an early stage. As announced by Community Trust Bancorp Inc. in a news release and in a regulatory filing published on Wednesday, July 28, 2021, Jean R. Hale leaves her post as chief executive officer at the parent company of Community Trust Bank after about 23 years in the role, effective February 7, 2022.
It is the end of an era.
Jean Hale’s duties as CEO will be taken over by Mark A. Gooch, currently President and Chief Executive Officer at Community Trust Bank, Inc.
“Ongoing executive succession plan”
Jean Hale’s departure from the CEO post is explained as follows. Community Trust Bancorp said: “On July 28, 2021, Community Trust Bancorp, Inc. (the “Company”) announced several changes to its executive management as part of an ongoing executive succession plan.”
Precise information regarding Jean Hale’s future plans was not immediately available.
Community Trust Bancorp said: “Jean R. Hale, Chairman, President, and Chief Executive Officer of the Company for the last 23 years will retire effective February 7, 2022.”
Share price increase since July 2016
The announcement follows an increase in Community Trust Bancorp Inc.’s share price of 17% since July 2016.
In the position of CEO since 1999
Jean Hale became CEO of the Company in 1999.
Hale currently serves and will continue to serve as Chairman and Chief Executive Officer of the Company, as well as Chairman of the Board of Community Trust Bank, Inc. and Community Trust and Investment Company until her planned retirement on February 7, 2022.
Jean R. Hale was appointed to the Board in 1993 and was elected Chairman in 2004.
She currently serves as Chairman of the Board’s Executive Committee and as a member of the Corporate Retirement and Employee Benefit Committee.
Hale also serves as Chairman of the Board of Community Trust Bank, Inc. and Community Trust and Investment Company.
Hale has been employed by CTBI since 1969 and held various positions within the company, primarily in the lending area, serving as Executive Vice President and Senior Lender, Senior Vice President/Commercial Lending, and Vice President/Consumer Lending, as well as serving as Compliance and CRA Officer, prior to becoming President and CEO of CTB in 1993 and President and CEO of CTBI in 1999.
She is Chairman of the Board of the Kentucky Economic Development Finance Authority, a member of the Commonwealth Seed Capital, LLC Board, the University of Pikeville Board of Trustees, the ARH Foundation Board, and the Community Depository Institutions Advisory Council of the Federal Reserve Bank of Cleveland.
In addition, she serves on the Executive Committee for SOAR (Shaping Our Appalachian Region). Hale has an extensive history of volunteer service focused on economic development and education having served as Chairman of the Kentucky Chamber of Commerce, Chairman of the Kentucky Community and Technical College System Foundation, Chairman of Big Sandy Community and Technical College, and a member of the Kentucky Economic Development Partnership Board.
She also served six years as a member of the Board of the Cincinnati Branch of the Federal Reserve Bank of Cleveland.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Jean Hale’s move on a scale of 0 to 10.
exechange reached out to Community Trust Bancorp and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 31.2021 ($).