- After almost 15 years in the position
- Thanks for Haan
- Jon Swets taking over
- Haan kept it short and said 59 words
(exechange) — Holland, Michigan, October 19, 2023 — Ron Haan, chief executive of Macatawa, leaves his position. As announced by Macatawa Bank Corp. in a news release and in a regulatory filing published on Thursday, October 19, 2023, Ronald L. (Ron) Haan leaves his post as chief executive officer at the bank holding company, after almost 15 years in the role, effective November 1, 2023.
Generally speaking, it raises questions when a CEO leaves his post at short notice.
Ron Haan’s duties as CEO will be taken over by Jon W. Swets, currently Chief Financial Officer at Macatawa Bank Corp.
No reason given
In the announcement, Macatawa did not explicitly explain the reason for the move.
Precise information regarding Ron Haan’s future plans was not immediately available.
“Retire”
Macatawa said: “Ronald L. Haan will retire Nov. 1 after more than 18 years of leadership and service at Macatawa.”
Macatawa further said: “Ronald L. Haan, President and Chief Executive Officer of Macatawa Bank Corporation (the “Company”) and Macatawa Bank (collectively, “Macatawa”), has announced his retirement effective November 1, 2023.”
Share price decline since October 2018
The announcement follows a decline in Macatawa Bank Corp.’s share price of 22% since October 2018.
In the position of CEO since 2009
Ron Haan became CEO of the Company in 2009.
Haan, appointed president and CEO of the Company and the Bank in 2009, will continue to serve the remainder of his term on the board, which will expire May 2024.
He will also stay engaged with community relations, customer development and customer meetings from his office in the downtown Grand Rapids location for a period of time following his retirement.
Ronald L. Haan has been a director of the Company and the Bank since 2009.
Haan is Chief Executive Officer and President of the Company and the Bank.
Haan served as Executive Vice President of Macatawa Bank from September 2005 until August 12, 2009.
Haan was appointed as a director and Co-Chief Executive Officer, Secretary and Treasurer of the Company on February 9, 2009.
In August 2009, Haan was appointed Chief Executive Officer and President of the Company and the Bank.
Prior to September 2005, Haan was employed as an Executive Vice President of Fifth Third Bank.
Haan also served as the President and Chief Operating Officer of Ottawa Financial Corporation and AmeriBank, a position held since 1989. Haan served as a Director of Ottawa Financial Corporation, and AmeriBank.
He has been in banking since 1975 working in various capacities.
In addition to banking experience, he has also served in his community by serving as a director of Pine Rest Christian Mental Health, the Barnabas Foundation, Grand Rapids Christian School Association and CRC Loan Fund, Inc.
59 words by Ron Haan
In the release announcing his departure as CEO of Macatawa Bank Corp., Ron Haan received thanks.
In announcing his departure, Ron Haan kept it short and said 59 words.
“Fortunate”
Ron Haan stated: “I have been fortunate to have had a great banking career spanning nearly five decades with the last 18 years with Macatawa. The opportunity to serve our shareholders, customers and employees has been a privilege for me. I look forward to continuing my community involvement and customer relationships while seeing the Bank’s future accomplishments and growth under new leadership.”
Push-out Score for Ron Haan’s move determined
The Push-out Score indicates on a scale of 0 to 10 how likely it is that Ron Haan was pushed out or felt pressure to leave his position.
exechange reached out to Macatawa and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 43.2023 ($).