Bar Harbor Bankshares (BHB) CEO to Retire
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Bar Harbor Bankshares (NYSE: BHB) the parent company of Bar Harbor Bank & Trust, today announced that Joseph M. Murphy, President & CEO of the Company and the Bank since 2002, has advised the Board of Directors of his intention to retire from these positions in June, 2013.
The Company’s Board of Directors has established a succession committee to evaluate both internal and external candidates for Mr. Murphy’s replacement. The Board has engaged the services of Kaplan Associates, Inc. of Philadelphia, Pennsylvania as a partner in this process, which will begin this month.
Mr. Murphy also serves as a member of the Company’s Board of Directors and has expressed his desire and willingness to continue in that role following his planned retirement as CEO in 2013. The Company’s Board of Directors currently anticipates the re-nomination of Mr. Murphy in accordance with the Company’s existing director nomination process for election as a continuing director of the Company at the Company’s 2013 Annual Meeting.
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The Company’s Board of Directors has established a succession committee to evaluate both internal and external candidates for Mr. Murphy’s replacement. The Board has engaged the services of Kaplan Associates, Inc. of Philadelphia, Pennsylvania as a partner in this process, which will begin this month.
Mr. Murphy also serves as a member of the Company’s Board of Directors and has expressed his desire and willingness to continue in that role following his planned retirement as CEO in 2013. The Company’s Board of Directors currently anticipates the re-nomination of Mr. Murphy in accordance with the Company’s existing director nomination process for election as a continuing director of the Company at the Company’s 2013 Annual Meeting.
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