OLD NATIONAL BANCORP (NASDAQ:ONB) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(b)At a meeting of the Board of Directors (the “Board”) of Old National Bancorp (the “Company”) on January 15, 2019, Robert G. Jones notified the Board of his decision to retire as Chief Executive Officer of the Company effective as of the commencement of the Company’s 2019 Annual Meeting of Shareholders to be held on May 2, 2019 (the “Annual Meeting”).Mr. Jones will continue to serve as the Company’s Chairman of the Board through January 2020.
(c) At its January 15, 2019 meeting, the Board elected James C. Ryan, III, age 47, to succeed Mr. Jones as Chief Executive Officer of the Company, effective as of the commencement of the Company’s 2019 Annual Meeting on May 2, 2019.
Mr. Ryan has served as the Company’s Senior Executive Vice President and Chief Financial Officer since May 2016.He previously served as Executive Vice President and Director of Corporate Development and Mortgage Banking from February 2015 to May 2016, Executive Vice President and Director of Corporate Development from July 2009 to February 2015, Senior Vice President and Integration Executive from December 2006 to July 2009, and Senior Vice President and Treasurer from March 2005 to December 2006.
There are no arrangements or understandings between Mr. Ryan and any other persons to which he was selected as Chief Executive Officer. He has no direct or indirect material interest in any transaction required to be disclosed to Item 404(a) of Regulation S-K.
Also, at its January 15, 2019 meeting, the Board elected Brendon B. Falconer, age 43, to succeed Mr. Ryan as the Company’s Chief Financial Officer, effective as of the commencement of the Company’s 2019 Annual Meeting on May 2, 2019.
Mr. Falconer has served as the Company’s Senior Vice President and Treasurer since November 2016.He previously served as Senior Vice President and Credit Operations Director from March 2013 to November 2016, Loss Share President from January 2012 to March 2013, and Vice President and Bank Controller from April 2009 to January 2012.
There are no arrangements or understandings between Mr. Falconer and any other persons to which he was selected as Chief Financial Officer. He has no direct or indirect material interest in any transaction required to be disclosed to Item 404(a) of Regulation S-K.
The Company is working on employment agreements for Mr. Ryan and Mr. Falconer, along with compensation arrangements, and will amend this 8-K once these agreements are finalized.Mr. Ryan is currently a party to an employment agreement with the Company, which is described in the Company’s Proxy Statement filed with the Securities and Exchange Commission on March5, 2018.
Item 9.01.Financial Statements and Exhibits.
OLD NATIONAL BANCORP /IN/ Exhibit
EX-99.1 2 onb-ex991_57.htm EX-99.1 onb-ex991_57.htm Exhibit 99.1 NEWS RELEASE NASDAQ: ONB oldnational.com For Immediate Release – January 16,…
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About OLD NATIONAL BANCORP (NASDAQ:ONB)
Old National Bancorp is a financial holding company. The Company, through its banking subsidiary, provides a range of services, including commercial and consumer loan and depository services, private banking, brokerage, trust, investment advisory, and other traditional banking services. Through its non-bank affiliates, the Company provides full service insurance brokerage services and other financial services. The Company operates in two segments: banking and insurance. The Company’s banking segment operates through its subsidiary, Old National Bank. Old National Bank operates approximately 160 banking financial centers located in Indiana, Kentucky and Michigan. The Company’s insurance segment offers full-service insurance brokerage services, including commercial property and casualty, surety, loss control services, employee benefits consulting and administration, and personal insurance.