Camden National names Marie McCarthy as next board chair

Camden National Corporation (NASDAQ: CAC) announced Marie J. McCarthy will succeed Lawrence J. Sterrs as chair of its board of directors when he retires on December 31, 2025.

McCarthy was immediately appointed vice-chair of the board and will become chair upon Sterrs' retirement after 10 years of service on the board, including eight years as chair since 2017.

McCarthy has served as an independent board member since 2018, chairing the compensation committee and serving on the technology committee. She retired in April 2025 as chief operations officer at L.L.Bean after more than 30 years with the company, where she worked primarily in human resources before her role expanded to include operations oversight.

"Today's announcement marks the successful conclusion of a thoughtful and well-executed succession process led by the Board and Larry, designed to ensure leadership continuity and the ongoing success of the Company," said Simon Griffiths, president and chief executive officer of Camden National.

At L.L.Bean, McCarthy oversaw fulfillment, returns, manufacturing, customer satisfaction, and corporate facilities and real estate. She served on the company's investment committee, benefits committee, retail real estate committee, and corporate real estate committee. She currently serves on the boards of Maine Health and the Olympia Snowe Women's Leadership Institute.

"I am honored to succeed Larry and grateful for the chance to build on his inspiring leadership," McCarthy said in the company's announcement.

Camden National Corporation is the largest publicly traded bank holding company in Northern New England with $6.9 billion in assets. Camden National Bank operates 72 banking centers in Maine and New Hampshire.

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