Fidelity Southern CFO Steve Brolly leaves post at short notice

  • Push-out Score suggests push-out forces
  • After almost nine years on the job
  • Charlie Christy taking over
  • Brolly will remain as officer at Fidelity Southern

(exechange) — Atlanta, Georgia, June 23, 2017 — Steve Brolly, finance chief of Fidelity Southern, leaves the position. It is a change at short notice. As announced by Fidelity Southern Corporation in a news release on Friday, June 23, 2017, Stephen H. (Steve) Brolly leaves the post as Chief Financial Officer at the bank holding company in a surprising move after almost nine years on the job, effective June 26, 2017.

Brolly’s duties are taken over by Charlie Christy, most recently Chief Financial Officer at CoastalSouth Bancshares, Inc.

The fact that Brolly’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.

No reason given

In the announcement, Fidelity Southern did not explicitly explain the reason for Brolly’s imminent move, leaving room for speculation.

Brolly will remain as officer at Fidelity Southern

“Current Chief Financial Officer Stephen H. Brolly, who has been with the Company for 11 years, will continue to serve the Company as an officer in Fidelity Southern and Fidelity Bank,” Fidelity Southern said.

Share price rise since February 2016

The change follows a rise in the share price of Fidelity Southern Corporation since February 2016.

Chaired by James B. Miller Jr.

Fidelity Southern Corporation is chaired by James B. Miller Jr.

Miller serves as Chairman of the Board of Fidelity Southern Corporation, the Bank’s holding company, and Fidelity Bank.

On the job as CFO since 2008

Stephen H. Brolly has been the Chief Financial Officer of Fidelity Bank and Fidelity Southern Corporation since December 16, 2008.

Push-out Score suggests push-out forces

It is not completely certain what forces eventually triggered Steve Brolly’s imminent move.

The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the management change.

Read the full story in the exechange report 26.2017 ($).