Camden National Corporation Announces Succession for Chair of its Board of Directors
Camden National Corporation (NASDAQ: CAC) has announced key leadership changes to its Board of Directors. Marie J. McCarthy has been appointed as Vice-Chair of the Board effective immediately and will succeed Lawrence J. Sterrs as Board Chair upon his retirement on December 31, 2025.
McCarthy, who has served as an independent board member since 2018, brings over 30 years of leadership experience from L.L.Bean, where she most recently served as Chief Operations Officer before retiring in April 2025. Sterrs will conclude his tenure after 10 years of distinguished service, including serving as Board Chair since 2017.
Camden National Corporation (NASDAQ: CAC) ha comunicato importanti cambiamenti nella leadership del suo Consiglio di Amministrazione. Marie J. McCarthy 猫 stata nominata Vicepresidente del Consiglio con effetto immediato e succeder脿 a Lawrence J. Sterrs come Presidente del Consiglio al suo pensionamento previsto per il 31 dicembre 2025.
McCarthy, membro indipendente del Consiglio dal 2018, porta con s茅 oltre 30 anni di esperienza dirigenziale maturata in L.L.Bean, dove 猫 stata Chief Operations Officer prima di andare in pensione nell鈥檃prile 2025. Sterrs terminer脿 il suo mandato dopo 10 anni di servizio distinti, avendo ricoperto la carica di Presidente dal 2017.
Camden National Corporation (NASDAQ: CAC) ha anunciado cambios clave en la direcci贸n de su Junta Directiva. Marie J. McCarthy ha sido nombrada Vicepresidenta de la Junta con efecto inmediato y suceder谩 a Lawrence J. Sterrs como Presidentede la Junta cuando se jubile el 31 de diciembre de 2025.
McCarthy, que ha sido miembro independiente de la Junta desde 2018, aporta m谩s de 30 a帽os de experiencia en liderazgo procedentes de L.L.Bean, donde se desempe帽贸 como Chief Operations Officer antes de retirarse en abril de 2025. Sterrs concluir谩 su mandato tras 10 a帽os de distinguido servicio, incluyendo su presidencia desde 2017.
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Camden National Corporation (NASDAQ: CAC) a annonc茅 des changements importants dans la direction de son conseil d'administration. Marie J. McCarthy a 茅t茅 nomm茅e vice-pr茅sidente du conseil avec effet imm茅diat et succ茅dera 脿 Lawrence J. Sterrs en tant que pr茅sidente du conseil 脿 son d茅part 脿 la retraite le 31 d茅cembre 2025.
McCarthy, membre ind茅pendante du conseil depuis 2018, apporte plus de 30 ans d'exp茅rience en management acquise chez L.L.Bean, o霉 elle a occup茅 r茅cemment le poste de Chief Operations Officer avant de prendre sa retraite en avril 2025. Sterrs ach猫vera son mandat apr猫s 10 ann茅es de service distingu茅, dont la pr茅sidence depuis 2017.
Camden National Corporation (NASDAQ: CAC) hat wesentliche F眉hrungs盲nderungen im Vorstand bekanntgegeben. Marie J. McCarthy wurde mit sofortiger Wirkung zur stellvertretenden Vorsitzenden des Vorstands ernannt und wird Lawrence J. Sterrs als Vorstandsvorsitzenden nach dessen Ruhestand am 31. Dezember 2025 nachfolgen.
McCarthy, die seit 2018 als unabh盲ngiges Vorstandsmitglied t盲tig ist, bringt 眉ber 30 Jahre F眉hrungserfahrung von L.L.Bean mit, wo sie zuletzt als Chief Operations Officer t盲tig war, bevor sie im April 2025 in den Ruhestand ging. Sterrs beendet seine Amtszeit nach 10 Jahren herausragenden Dienstes, davon als Vorsitzender seit 2017.
- Smooth leadership transition with clear succession plan in place
- Incoming Chair brings 30+ years of executive experience from L.L.Bean
- McCarthy has served on the board since 2018, ensuring continuity and familiarity with operations
- None.
Marie J. McCarthy appointed to Vice-Chair of the Board and to succeed Lawrence J. Sterrs as Chair of the Board upon his retirement.
Mr. Sterrs will retire from the Board, effective December 31, 2025, after 10 years of distinguished service on the Board, including serving as Chair of the Board since 2017.
"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. "As Larry prepares to retire after more than a decade of dedicated service, we extend our sincere gratitude for his many contributions."
Ms. McCarthy has served as an independent member of the Board since 2018, chairing the Compensation Committee and serving on the Technology Committee.
Mr. Griffiths continued, "Marie has had a profound impact on our business, consistently applying a disciplined approach to strategy, execution, and customer experience. She brings both a global and community-focused perspective, along with deep expertise in people and culture. Her more than 30 years of leadership at L.L.Bean, particularly in real estate and operational excellence, make her an invaluable asset to our organization."
"Marie McCarthy has been a valued voice on the Board and a distinguished leader serving global businesses and nonprofit communities," said Mr. Sterrs. "As I retire and we celebrate Camden National Bank's 150th anniversary, I am thrilled she will step into the role of Board Chair, and am confident she will guide the Board with strength and vision. I also want to thank my fellow directors and Simon Griffiths for their leadership during this transition."
Ms. McCarthy served as Chief Operations Officer at L.L.Bean before retiring in April 2025. Ms. McCarthy had been with L.L.Bean since 1993, where she worked primarily in human resources throughout her career. Ms. McCarthy's role at L.L.Bean had evolved in recent years to include current oversight of Operations, encompassing Fulfillment, Returns, Manufacturing, Customer Satisfaction, and Corporate Facilities and AG真人官方 Estate. Ms. McCarthy was a member of L.L.Bean's Investment Committee and Benefits Committee, Retail AG真人官方 Estate Committee, and Corporate AG真人官方 Estate Committee, overseeing all corporate holdings. Ms. McCarthy currently serves on the Boards of Directors of Maine Health and the Olympia Snowe Women's Leadership Institute. She has shared her talents with numerous other nonprofit organizations over the years.
"I am honored to succeed Larry and grateful for the chance to build on his inspiring leadership. In the years I have served with him, I have come to admire his passion, leadership, and dedication to this strong organization," Ms. McCarthy said.
About Camden National Corporation
Camden National Corporation (NASDAQ: CAC) is the largest publicly traded bank holding company in Northern New England, with
Comprehensive wealth management, investment, and financial planning services are delivered by Camden National Wealth Management.
Forward-Looking Statements
Certain statements contained in this press release that are not statements of historical fact may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, among other things, statements regarding changes to the Board of Directors, succession, governance, and other statements that are not historical in nature. Any information that is not historical in nature included in this release is subject to change. These statements are made on the basis of views and assumptions regarding future events as of the time the statements are made. The Company does not undertake any obligation to update these statements. Actual results may differ materially from those expressed or implied. Such differences may result from actions taken by the Company, including changes to the Board of Directors and business or governance decisions, as well as from developments beyond the Company's control, including the factors set forth in the Company's Annual Report on Form 10-K for the year ended December 31, 2024, and subsequent filings with the Securities and Exchange Commission.
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