- After almost 16 years on the job
- Accolades, praise, thanks and good wishes for Ramaker
(exechange) — Midland, Michigan, June 21, 2017 — David Ramaker, chief executive of Chemical Financial, hands over the reins. As announced by Chemical Financial Corporation in a news release and in a regulatory filing published on Wednesday, June 21, 2017, David B. Ramaker, Chief Executive Officer, leaves the financial holding company of Chemical Bank after almost 16 years on the job, effective in the third quarter of this year.
It is the end of an era.
Ramaker’s duties are taken over by David Provost, a former Chief Executive Officer at Talmer Bancorp, Inc.
Already a director
Provost is already a director of Chemical Financial.
Ramaker’s move is part of a management shake-up also involving the position of President and CEO of Chemical Bank.
No reason given
In the announcement, Chemical Financial did not explicitly explain the reason for Ramaker’s move.
Precise information about the future plans of Ramaker was not immediately available.
Chemical Financial said: “On June 20, 2017, David B. Ramaker notified Chemical Financial Corporation … of his decision to retire from his positions as a Director, Chief Executive Officer and President of the Corporation, effective in the third quarter of 2017.”
Share price rise since September 2011
The change follows a rise in the share price of Chemical Financial Corporation since September 2011.
On the job as CEO since 2002
David B. Ramaker is Chief Executive Officer and President of Chemical Financial.
Ramaker was appointed Chief Executive Officer and President in January 2002 and Chairman in April 2006.
Ramaker has been a director of Chemical Financial since October 2001 and served as Chairman of the Chemical Financial board of directors until August 31, 2016, preceding Gary Torgow.
Ramaker is a member of the Risk Management Committee.
Ramaker also serves as Chairman, Chief Executive Officer and President of Chemical Bank.
Ramaker joined Chemical Bank as Vice President on November 29, 1989.
Ramaker became President of Chemical Bank Key State (merged into Chemical Bank on December 31, 2000) in October 1993.
Ramaker became President and a member of the board of directors of Chemical Bank in September 1996 and Executive Vice President and Secretary to the board of Chemical Financial and Chief Executive Officer of Chemical Bank on January 1, 1997.
Ramaker served as Chief Executive Officer and President of Chemical Bank until December 31, 2001.
He resumed these positions on January 1, 2006.
Ramaker became Chairman of the board of directors of Chemical Bank in January 2002.
During the last five years, Ramaker has served as a director of all of the Corporation’s subsidiaries.
Ramaker is also a member of the Executive Leadership Team and the Senior Leadership Team of Chemical Bank and the board of managers of InSite Capital, LLC, a wholly-owned subsidiary of Chemical Financial.
Read the full story in the exechange report 26.2017 ($).