May 17, 2017 — Puget Sound Bank (OTCBB:PUGB), today announced a formal succession plan adopted by its board of directors, which will be implemented over the course of the next year. The following management changes are being implemented immediately:
Jim Mitchell, currently President and Chief Executive Officer, will be retiring in May 2018. He will continue to serve as CEO and a Director for the next year.
Sean Brennan, will continue to serve as Chief Lending Office and is being promoted to President, effective immediately. Following Mitchell’s retirement, he will be promoted to CEO.
Tony Chalfant, will continue to serve as Chief Credit Officer and is being promoted to Chief Operating Officer.
Phil Mitterling will continue to serve as Chief Financial Officer and is taking on additional responsibilities as Chief Information Officer.