- After twelve years on the job
- Praise and words of regret for Beard
- Beard said 61 words
(exechange) — American Fork, Utah, April 27, 2017 — Richard Beard, chief executive of People’s Utah Bancorp, hands over the reins. As announced by People’s Utah Bancorp in a news release published on Wednesday, April 26, 2017 and in a regulatory filing published on Thursday, April 27, 2017, Richard T. Beard leaves the post as Chief Executive Officer at the bank holding company after twelve years on the job, effective January 02, 2018.
It is the end of an era.
Beard’s duties are taken over by Len E. Williams, a former Chief Executive Officer at Home Federal Bank in Nampa, Idaho.
“Replacing the CEO … has been a major focus of our efforts over the last few months”
The management change is explained as follows. Beard said: “Replacing the CEO and President of both PUB and PIB has been a major focus of our efforts over the last few months.”
Precise information about the future plans of Beard was not immediately available.
People’s Utah Bancorp said: “Richard T. Beard will retire as President and CEO of PUB and CEO of PUB’s wholly owned subsidiary People’s Intermountain Bank, effective January 2, 2018.”
Share price rise since July 2016
The change follows a rise in the share price of People’s Utah Bancorp since July 2016.
Chaired by Paul R. Gunther
People’s Utah Bancorp is chaired by Paul R. Gunther.
Paul R. Gunther has served as a director of People’s Utah Bancorp since 1998 and as Chairman of the Board since 2003.
On the job as CEO since 2006
Richard T. Beard has served as Chief Executive Officer and President of People’s Utah Bancorp since January 2006 and as a board member since 2004.
He also served as Chief Executive Officer and President of Bank of American Fork from January 2005 until 2015 when its name was changed to People’s Intermountain Bank.
He is currently serving as Chief Executive Officer and as a director of People’s Intermountain Bank.
He has been a member and Chairman of the Board of Directors of Western Independent Bankers, based in San Francisco, California and is currently the Past Chairman Emeritus for the year 2016-17.
He has served as a member of the Board of Directors of the Utah Bankers Association, including the board’s Executive Committee representing community banks and is again serving on this board.
He serves as a director on the Board of the Rocky Mountain Reinvestment Corporation, funding low income housing in Utah.
He serves on the Board of the Utah Department of Financial Institutions, appointed by the Governor of Utah.
He serves on the FDIC Community Banking Advisory Board, appointed by the Chairman of the FDIC. Beard holds a Juris Doctor degree from the University of Utah College of Law and a Bachelor of Science degree in Political Science from the University of Utah.
He is also a graduate of the Pacific Coast Banking School.
Beard will continue to serve on PUB’s board of directors after his retirement.
Read the full story in the exechange report 18.2017 ($).