C&N Blog Home C&N News Citizens & Northern Corporation announced today the retirement and accepted the resignation of Charles H. Updegraff, Jr. as Chairman, President and Chief Executive Officer. Category Image

Citizens & Northern Corporation announced today the retirement and accepted the resignation of Charles H. Updegraff, Jr. as Chairman, President and Chief Executive Officer.

Posted Friday, 24 October 2014 11:06 | Filed under C&N News

WELLSBORO, PA - Citizens & Northern Corporation announced today the retirement and accepted the resignation of Charles H. Updegraff, Jr. as Chairman, President and Chief Executive Officer.  Mr. Updegraff also resigned as a member of the Board of the Company and as Chairman, President and CEO of Citizens & Northern Bank, the Company's wholly owned banking subsidiary.
 
Mark A. Hughes, currently Executive Vice President and Chief Financial Officer of the Bank, and Treasurer and Chief Financial Officer of the Company, has been appointed Interim President and CEO of the Company and Bank.
 
Anthony Peluso, the current Controller of the Bank also has been appointed as Treasurer of the Company and Interim Chief Financial Officer of the Company and the Bank.
 
The Executive Committee of the Board will act as a Search Committee to seek a permanent replacement for Mr. Updegraff.  The Committee will consider both internal and external candidates.
 
Mr. Updegraff joined the Company in 2007 and has been President and CEO of the Company and Bank since 2010.  On  behalf of the Board of Directors, James E. Towner, Lead Director, stated:  "During his tenure, the bank increased profitability and positioned itself to remain competitive in the ever changing financial services industry.  We wish him well in his future endeavors."