- After ten years on the job
- Miller will remain as chairman at Civista
- Miller spoke at length and said 92 words
(exechange) — Sandusky, Ohio, July 31, 2017 — James Miller, chief executive of Civista, hands over the reins. As announced by Civista Bancshares, Inc. in a news release and in a regulatory filing published on Monday, July 31, 2017, James O. Miller, chief executive officer, leaves the bank holding company after ten years on the job, effective December 31, 2017.
It is the end of an era.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, only 34 percent of the CEOs who departed over the past twelve months left after more than ten years. Overall, the average tenure of those who left was 8.6 years, according to data compiled by exechange.
Miller’s duties are taken over by Dennis Shaffer, currently executive vice president at Civista Bancshares, Inc.
“Anticipated succession plan”
The management change is explained as follows. Miller said: “This is the next step in our anticipated succession plan and follows the pattern that Civista has set in the past.”
Miller will remain as chairman at Civista
“Mr. Miller will continue as chairman of the boards of directors of Civista and the Bank in the capacity of a non-employee director. Because Dennis E. Murray, Jr. will continue in his capacity as lead independent director, the leadership structure of the boards of directors will not change,” Civista said.
Civista announced that, effective December 31, 2017, James O. Miller “will retire as an employee and relinquish his positions as chief executive officer and president of Civista and as chief executive officer of Civista’s banking subsidiary, Civista Bank”.
Share price rise since December 2012
The change follows a rise in the share price of Civista Bancshares, Inc. since December 2012.
On the job as CEO since 2007
James O. Miller has been the Chief Executive Officer and President of Civista Bancshares, Inc. since December 19, 2007.
James O. Miller has served as the chief executive officer of the Bank since 2005 and Civista since 2007.
Miller has more than 43 years in banking beginning with Third National Bank in Sandusky in 1974.
He joined Civista in 1986 as a vice president of finance and has held several roles in his 31 years at Civista.
He was actively involved in planning and growing the company from a $260 million community bank in Sandusky to a $1.4 billion institution located throughout Ohio.
Miller is a graduate of Sandusky High School and earned a bachelor’s degree in business from Ashland College.
In addition he is a graduate of numerous banking educational programs.
Through the years Miller has served the community in many leadership roles and currently is on the board of Firelands Regional Medical Center and its executive committee, the Mack Iron Works Company, and the Albert & Olive Schlink Foundation.
He is also treasurer of the Erie County Economic Development Corporation, chairman of the Erie County Port Authority, and a founding board member of the Sandusky Area Maritime Association and serves on the boards of the Erie County Historical Association and the Sandusky Bicentennial Commission.
He was on the Community Depository Institutions Advisory Council of the Federal Reserve Bank of Cleveland for several years.
As chairman, Miller’s future responsibilities will include assisting in strategic and financial planning, acting as a liaison between the boards and management, providing counsel and guidance to his successor and participating in the Bank’s lending decisions.
Read the full story in the exechange report 32.2017 ($).