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Posted 21 June, 2021

MIDDLEFIELD BANC CORP appointed new CEO

CEO Change detected for ticker Nasdaq:MBCN in a 8-K filed on 21 June, 2021.


  On June 14, 2021, Middlefield Banc Corp. Chief Executive Officer Thomas G. Caldwell announced his plans to retire as of March 31, 2022.  

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Overview of MIDDLEFIELD BANC CORP
Financial Services • Banking
Middlefield Banc Corp. is a holding company, which engages in the provision of personal and commercial banking solutions. It offers checking, savings, negotiable order of withdrawal accounts, money market accounts, time certificates of deposit, commercial loans, real estate loans, a variety of consumer loans, safe deposit facilities, and travelers’ checks services. It also provides mortgage and investment services. The company was founded in 1988 and is headquartered in Middlefield, OH.
Market Cap
$207M
View Company Details
MIDDLEFIELD BANC CORP by TradingView
Relevant filing section
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On June 14, 2021, Middlefield Banc Corp. Chief Executive Officer Thomas G. Caldwell announced his plans to retire as of March 31, 2022. Mr. Caldwell will remain President and Chief Executive Officer of Middlefield Banc Corp. and The Middlefield Banking Company until his retirement in 2022. Mr. Caldwell intends to complete his term as director that would end at the company's 2022 annual meeting of shareholders. The company's board of directors is expected to appoint a successor in the coming months, ensuring a smooth transition prior to April 1, 2022.

Mr. Caldwell's decision to retire in 2022 is due to personal reasons and is not the result of any disagreement with Middlefield Banc Corp.

Consistent with the company's management succession plan, the board of directors is leading the succession planning process and has formed a search committee to proactively manage the transition process. The board has engaged an executive search firm to identify and evaluate potential successors. Both internal and external candidates will be considered. Mr. Caldwell will work with the company's board of directors to ensure the successful identification of a successor Chief Executive Officer.

Additional details may be found in the press release attached as Exhibit 99 to this report which is hereby incorporated herein by reference.