- After around 17 years on the job
- Tom Splaine, Jr. taking over
(management-change.com) — Oak Ridge, New Jersey, January 03, 2017 — Joseph Hurley, finance chief of Lakeland Bancorp, leaves. It is a change at short notice. As announced by Lakeland Bancorp, Inc. in a news release on Tuesday, January 03, 2017, Joseph F. Hurley leaves the post as Chief Financial Officer at the financial services company after around 17 years on the job, effective in March 2017.
It is the end of an era.
Hurley leaves the company effective in July 2017.
Hurley’s duties are taken over by Tom Splaine, Jr., currently First Senior Vice President and Chief Accounting Officer at Lakeland Bancorp, Inc.
The move is part of a management shake-up.
“Long-term succession planning process”
The management change is explained as follows. Lakeland Bancorp announced “several management team transitions, in line with the Company’s long-term succession planning process”.
Lakeland Bancorp said: “Joseph F. Hurley, Executive Vice President and Chief Financial Officer of the Company and the Bank, is expected to retire in July 2017, and Thomas F. Splaine, Jr., First Senior Vice President and Chief Accounting Officer of the Company and the Bank, is expected to assume the position of Chief Financial Officer upon completion and filing of the Company’s 2016 Annual Report on Form 10-K in March 2017”.
Precise information about the future plans of Hurley was not immediately available.
Share price rise since February 2016
The change follows a rise in the share price of Lakeland Bancorp, Inc. since February 2016.
Chaired by Mary Ann Deacon
Lakeland Bancorp, Inc. is chaired by Mary Ann Deacon.
Deacon has been a member of the Board of Lakeland Bancorp, Inc. since 1995.
Thomas J. Shara serves as CEO of Lakeland Bancorp, Inc. Shara was named President and Chief Executive Officer of Lakeland Bancorp, Inc. and Lakeland Bank effective April 2, 2008.
On the job as CFO since 1999
Hurley has been an Executive Vice President and Chief Financial Officer of Lakeland BanCorp Inc. since November 1999.
Hurley joined Lakeland Bank in 1999 as Executive Vice President and Chief Financial Officer with responsibility for the Controller, Investment and Treasury functions.
He previously served as Deputy Controller of Bankers Trust and Corporate Controller at Westpac Banking Corporation and HSBC Securities.
Hurley began his career with Price Waterhouse and, most recently, Hurley was the Chief Financial Officer of Hudson United Bancorp, a $9 billion New Jersey based community bank.
Hurley holds an undergraduate and MBA degree from Rutgers University.
He is also a graduate of the College for Financial Planners.
A Certified Public Accountant, Hurley is a member of the American Institute of CPA’s and serves on the Finance Committee of various community organizations.
Read the full story in the management-change.com report 02.2017 ($).