- Push-out Score determined
- After about a year and a half in the position
- Praise and thanks for Kaczmarek
- Clay Jones taking over
(exechange) — San Jose, California, July 28, 2022 — Walt Kaczmarek, chief executive of Heritage Commerce, leaves. As announced by Heritage Commerce Corp. in a news release on Thursday, July 28, 2022, Walter T. (Walt) Kaczmarek leaves his post as chief executive officer at the holding company for Heritage Bank of Commerce, after about a year and a half in the role, effective September 15, 2022.
Walt Kaczmarek’s duties as CEO will be taken over by Robertson Clay Jones, currently President and Chief Operating Officer at Heritage Bank of Commerce.
No reason given
In the announcement, Heritage Commerce did not explicitly explain the reason for the move.
Precise information regarding Walt Kaczmarek’s future plans was not immediately available.
“Stepping down”
Heritage Commerce said: “Walter T. Kaczmarek will be stepping down as President and Chief Executive Officer of the Company, effective September 15, 2022.”
Share price increase since July 2021
The announcement follows an increase in Heritage Commerce Corp.’s share price of 3% since July 2021.
In the position of CEO since 2021
Walt Kaczmarek became CEO of the Company in 2021.
Kaczmarek will remain on the Boards of both the Company and the Bank.
Kaczmarek has been a director since 2005.
He has served as President and Chief Executive Officer of Heritage Commerce Corp and Chief Executive Officer (and President prior to January 2022) of Heritage Bank of Commerce since March 15, 2021.
He had previously served as Chief Executive Officer and President from 2005 until his initial retirement effective August 8, 2019.
Prior to joining the Company in 2005, Kaczmarek was Executive Vice President of Comerica Bank and of Plaza Bank of Commerce from 1990.
Prior to joining Plaza Bank of Commerce he served in various positions with Union Bank of California (formerly Union Bank) and also The Martin Group, a real estate investment development company.
Kaczmarek has a Bachelor of Science in Commerce degree from Santa Clara University, and a Masters in Business Administration degree from San Jose State University.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Walt Kaczmarek’s move on a scale of 0 to 10.
exechange reached out to Heritage Commerce and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 31.2022 ($).